Latest news with #homeSales
Yahoo
6 days ago
- Business
- Yahoo
Possible EU-US Trade Deal Weighs on the Dollar
The dollar index (DXY00) on Wednesday fell by -0.18%. The dollar gave up an early advance Wednesday and fell to a 2-week low. Improved prospects for an EU trade agreement with the US boosted the euro and undercut the dollar. The dollar also fell after US existing home sales fell more than expected to a 9-month low. The dollar initially moved higher on Wednesday on reduced global trade tensions following the US's agreement to a trade deal with Japan. Also, stronger T-note yields on Wednesday improved the dollar's interest rate differentials. More News from Barchart Dollar Falls due to Lower T-note Yields Dollar Weakens and Gold Rallies as T-note Yields Slide Will Metals Stay in the Spotlight Wednesday? Stop Missing Market Moves: Get the FREE Barchart Brief – your midday dose of stock movers, trending sectors, and actionable trade ideas, delivered right to your inbox. Sign Up Now! US June existing home sales fell -2.7% m/m to a 9-month low of 3.93 million, weaker than expectations of -0.7% to 4.00 million. Federal funds futures prices are discounting the chances for a -25 bp rate cut at 4% at the July 29-30 FOMC meeting and 58% at the following meeting on September 16-17. EUR/USD (^EURUSD) Wednesday rose by +0.13%. The euro recovered from early losses Wednesday and climbed to a 2-week high on a report that said EU negotiators were close to a trade deal with the US. Also, the larger-than-expected increase in the Eurozone Jul consumer confidence index to a 4-month high was bullish for the euro. In addition, expectations for the ECB to keep interest rates unchanged at Thursday's policy meeting are supportive for the euro. The Eurozone Jul consumer confidence index rose +0.6 to a 4-month high of -14.7, stronger than expectations of +0.3 to -15.0. Diplomats briefed on the situation said the European Union (EU) and the US are progressing toward an agreement that would set a 15% tariff for most imports, lower than the 30% rate President Trump had threatened on EU goods if no trade agreement is reached by August 1. Swaps are pricing in a 1% chance of a -25 bp rate cut by the ECB at Thursday's policy meeting. USD/JPY (^USDJPY) Wednesday fell by -0.04%. The yen rose to a 1.5-week high against the dollar Wednesday after the US and Japan reached a trade agreement. The yen also garnered support today on hawkish comments from BOJ Deputy Governor Uchida, which pushed the 10-year JGB bond yield up to a 16-year high of 1.616%. This was prompted by his statement that the trade deal between the US and Japan brings the BOJ closer to raising interest rates. Limiting gains in the yen on Wednesday were higher T-note yields. The upside in the yen in the near term may be limited due to concerns that the LDP's loss of its majority in Japan's upper house in Sunday's elections may lead to fiscal deterioration in Japan's government finances, as the government boosts spending and implements tax cuts. BOJ Deputy Governor Uchida said, 'Uncertainty has receded' after a trade deal was made with Japan and the US, which will push the BOJ closer to a rate hike by boosting the prospects for suitable economic conditions. President Trump announced a trade deal with Japan late Tuesday, which will impose 15% tariffs on US imports from Japan, lower than the previously flagged 25% rate set to take effect on August 1. The deal also creates a $550 billion fund for Japan to make investments in the US. Japan also agreed to purchase 100 Boeing aircraft, increase its purchases of US rice by 75%, and buy $8 billion in other agricultural products, while raising its defense spending with American firms to $17 billion annually, from $14 billion. August gold (GCQ25) Wednesday closed down -46.1 (-1.34%), and September silver (SIU25) closed down -0.052 (-0.13%). Precious metals on Wednesday gave up an early advance and retreated as easing global trade tensions curbed safe-haven demand for the metals. Trade tensions eased after the US and Japan agreed to a trade deal, and after diplomats briefed on the situation stated that the European Union (EU) and the US are progressing toward an agreement that would impose a 15% tariff on most imports. Wednesday's rally in the S&P 500 to a new record high also sparked long liquidation in precious metals. Higher global bond yields on Wednesday also undercut the prices of precious metals. In addition, hawkish comments from BOJ Deputy Governor Uchida weighed on precious metals when he said the trade deal between Japan and the US pushes the BOJ closer to a rate hike. Silver prices also slipped after US existing home sales fell more than expected to a 9-month low, a negative factor for industrial metals demand. Gold prices on Wednesday initially climbed to a 5-week high, and Sep silver posted a contract high while nearest-futures (N25) silver posted a 14-year high. Weakness in the dollar on Wednesday was supportive for metals prices, as the dollar index fell to a 2-week low. Precious metals continue to receive safe-haven support from geopolitical risks, including the conflicts in Ukraine and the Middle East. Fund buying of precious metals continues to support prices after gold holdings in ETFs rose to a two-year high on Tuesday, and silver holdings in ETFs reached a three-year high on the same day. On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on
Daily Mail
03-07-2025
- Business
- Daily Mail
Warning about housing mega crash
Home sales across the US have plummeted to the lowest level in 16 years - and the threat of a complete collapse is imminent. May 2025 was recorded as the slowest May for existing sales since 2009, the National Association of Realtors said in a report. They fell 0.7 percent compared to the same month last year and are likely headed for a freefall across the country. Potential buyers are scared off by a rocky economy, rising HOA fees and high mortgage and insurance rates, forcing sellers to slash prices . Median home prices were up 52 percent compared to May 2019, but over the same period wages gained only 30 percent, according to the NAR. Home sales are only at 75 percent of what they were pre-COVID, said NAR chief economist Lawrence Yun. Just before COVID hit in 2020, the average monthly payment on a home with a low mortgage rate was roughly $1,000. Today it's doubled and is roughly $2,000. 'That doubling in the monthly payment for a new set of buyers is hindering the market condition,' Yun said. The number of homes for sale has also become a problem. Too much inventory is hurting sellers across the US , especially in the West and South. Redfin has estimated there are 34 percent more sellers than buyers in the country right now. For sellers, the condo market is especially bad. In May, condo sales were down 10 percent compared to the same time last year. There are now 83 percent more condo sellers than buyers in the market, Redfin reports. Many hoped that the housing market would improve as people would list their homes and buyers would bite. Instead, buyers remain nervous about the economy and the future of their jobs. Yun said it's going to take mortgage rates coming down to unstick the housing market. 'If mortgage rates decrease in the second half of this year, expect home sales across the country to increase due to strong income growth, healthy inventory, and a record-high number of jobs,' he said. Home sales have even hit a recession level low this year. In March, home sales lowered more than expected — dropping to their slowest pace since 2009 as panicked buyers bailed. One report warned that five metro areas — three in Florida and two in Arizona — are at huge risk of a housing market crash in 2025. The tide is turning for buyers 'They have a ridiculously low 3 to 4 percent interest rate on their mortgage and are in great shape on paper.' Those people tend to hang on to their homes for a long time. He said plenty of people still want to buy, and they are growing less nervous because even though mortgage rates are still high, home prices are dropping. 'We are seeing at street level, sales increase for us in South Florida as we are going into the summer offseason months,' Lichtenstein told the Daily Mail. He said homeowners who want to sell quickly need to lower prices, and that buyers have an advantage now. 'The crash of the century was in 2006 to 2012 and the epicenter was in South Florida,' he said. 'This is nothing and I think we are already at the bottom of the amount of activity.'
CTV News
03-07-2025
- Business
- CTV News
Calgary home sales drop again in June as inventory keeps piling up: board
The Calgary Real Estate Board says home sales in the city decreased 16.5 per cent in June. THE CANADIAN PRESS/Jeff McIntosh CALGARY — The Calgary Real Estate Board says home sales in the city decreased 16.5 per cent in June compared with last year as higher levels of new listings led to inventory gain. The board says 2,286 homes changed hands last month, with declines recorded across all property types year-over-year. CREB chief economist Ann-Marie Lurie says sales decreases come as supply has improved across rental, resale and new home markets, allowing for more choice as inventory returned to levels reported in 2021 before a population surge. There were 4,223 new listings on the market last month, up 11.2 per cent from a year earlier, as the city's inventory reached 6,941 homes for sale — an 83.2 per cent increase. Lurie says additional choice in the market — combined with stagnant lending rates, persistent uncertainty and concerns of price adjustments — is keeping many potential buyers on the sidelines, which 'is weighing on home prices, especially for apartment and row style homes.' The residential benchmark price was $586,200 last month, marking a 3.6 per cent decrease from June 2024 levels. This report by The Canadian Press was first published July 2, 2025.
CTV News
03-07-2025
- Business
- CTV News
Inside Calgary's 5 most expensive homes for sale right now (July 2025)
The Calgary Real Estate Board says home sales in the city decreased 16.5 per cent in June compared with last year as higher levels of new listings led to inventory gain. The board says 2,286 homes changed hands last month, with declines recorded across all property types year-over-year. CREB chief economist Ann-Marie Lurie says sales decreases come as supply has improved across rental, resale and new home markets, allowing for more choice as inventory returned to levels reported in 2021 before a population surge. There were 4,223 new listings on the market last month, up 11.2 per cent from a year earlier, as the city's inventory reached 6,941 homes for sale — an 83.2 per cent increase. Lurie says additional choice in the market — combined with stagnant lending rates, persistent uncertainty and concerns of price adjustments — is keeping many potential buyers on the sidelines, which 'is weighing on home prices, especially for apartment and row style homes.' The residential benchmark price was $586,200 last month, marking a 3.6 per cent decrease from June 2024 levels. Dreaming of owning a lavish new home? Here are the city's five most expensive already-constructed residential homes for sale as of July 2, 2025, according to $13.5M mansion on Crescent Road Calgary home - 732 Crescent Road N.W. Inside 732 Crescent Road N.W. (CIR Realty/Krista Legue) Calgary most expensive home for sale is a mansion sitting on a prestigious stretch of road in the city's northwest. The 8,700-square-foot home was built in 2022 by Maillot Homes and features six total bedrooms (four above grade and two below), 10 bathrooms and three half-baths. Calgary home - 732 Crescent Road N.W. - living room Inside 732 Crescent Road N.W. (CIR Realty/Krista Legue) The home is seated along Crescent Road N.W, in the community of Rosedale, and features an unobstructed view of the city's downtown skyline. The outside of the mansion is clad in white Turkish limestone, while the inside was decorated by Julie Lanctot at Paul Lavoie Interior Design, who took inspiration from Alice in Wonderland. Calgary home - 732 Crescent Road N.W. - library Inside 732 Crescent Road N.W. (CIR Realty/Krista Legue) The 2.5-storey home is located at 732 Crescent Road N.W. It has been listed on for 47 days. $7.25M Eagle Ridge bungalow 40 Eagle Ridge Place S.W. A look at 40 Eagle Ridge Place S.W. in Calgary, Alta. ( This gated home in Eagle Ridge sits on a sprawling double lot. Built in 1971, the home has four above-grade bedrooms and one below grade, plus seven bathrooms. 'Once you step inside past the hand-chiselled walnut doors, you are greeted by a grand foyer that sets the tone for the splendor that awaits,' states the listing. 40 Eagle Ridge Place A look at 40 Eagle Ridge Place S.W. in Calgary. ( 'The main rooms are nothing short of magnificent, boasting expansive dimensions and exquisite finishes.' The home may be of interest to culinary enthusiasts due to its walk-in cooler, gas cooktop, double ovens and commercial-grade appliances. 'Whether you're hosting a grand gala or preparing an intimate meal for loved ones, this culinary haven is sure to impress.' 40 Eagle Ridge Place S.W. A look at 40 Eagle Ridge Place S.W. in Calgary, Alta. ( The bungalow is located at 40 Eagle Ridge Pl. S.W. It has been listed on for 273 days. $6.9 M historical mansion in Upper Mount Royal 930 Prospect Avenue S.W. - 6 930 Prospect Avenue S.W. in Calgary. ( This historic mansion, known as the 'Burns Residence,' is in Upper Mount Royal. The 5,298-square-foot home was built in 1912 and originally owned by Alfred Price, a superintendent with the Canadian Pacific Railway. 930 Prospect Avenue S.W. - 2 930 Prospect Avenue S.W. in Calgary. ( Aside from serving as the home for several notable and influential Calgarians, the residence sits on a sprawling half-acre lot surrounded by mature trees and lush landscaping. The three-storey home has five bedrooms, six full bathrooms and three half-baths. 930 Prospect Avenue S.W. - 8 930 Prospect Avenue S.W. in Calgary. ( One of the mansion's biggest draws may be the pool; it's situated near a glass cabana that can serve as a bar area or greenhouse. The home is located at 930 Prospect Ave. S.W. It has been listed on for 22 days. $6.5M mansion in Upper Mount Royal 1118 Premier Way SW A look at 1118 Premier Way S.W. in Calgary, Alta. (Mary Lou McCormick homes) This mansion in Upper Mount Royal was built in 2014 and includes five total bedrooms (four above grade and one below grade) and eight total bathrooms (six full and two half-baths). The fully furnished home is 5,098 square feet and, according to the listing on offers 'the ultimate blend of family functionality and elevated entertaining.' 1118 Premier Way SW A look at 1118 Premier Way S.W. in Calgary, Alta. (Mary Lou McCormick homes) 'From the moment you step inside, you're greeted by a dramatic grand staircase set beneath an expansive skylight, flooding the entry with natural light and setting the stage for the architectural elegance found throughout,' states the listing. 'Every space is a masterclass in luxury, designed by renowned interior designer Paul Lavoie and awarded Western Living's Best Home of the Year in 2022.' 1118 Premier Way SW A look at 1118 Premier Way S.W. in Calgary, Alta. (Mary Lou McCormick homes) The two-storey home is located at 1118 Premier Way S.W. It has been listed on for 47 days. $6M Upper Mount Royal mansion 2906 Marquette Street S.W. A look at 2906 Marquette Street S.W. in Calgary, Alta. ( Built in 2009, this Upper Mount Royal mansion features a swim-in-place lap pool with an underwater treadmill, an elevator, a heated driveway and a theatre. The home, described by the listing as private and secure, overlooks Cartier Park. 'This exceptional residence seamlessly combines style and sophistication and luxurious amenities,' states the listing. 2906 Marquette Street S.W. - 3 A look at 2906 Marquette Street SW in Calgary, Alta. ( 'The welcoming front entrance leads to a dramatic free-standing staircase, ascending to the main floor's spacious living room, boasting sweeping views and a double-sided gas fireplace shared with a cozy family room.' The home is 5,289 square feet with four bedrooms and six bathrooms. The garage has room for five cars and includes a rotating platform and a Tesla electric charger. 2906 Marquette Street S.W. - 4 A look at 2906 Marquette Street SW in Calgary, Alta. ( Not only is the driveway heated, but so are the front stairs and the walkway. The three-storey home is located at 2906 Marquette Street S.W. It has been listed on for 23 days. - With files from The Canadian Press
Bloomberg
03-07-2025
- Business
- Bloomberg
Hong Kong Home Sales Rebound to Stretch Through Year, CBRE Says
Hong Kong's rebound in home sales is likely to continue through the second half, helping developers run down inventories built up during the market slump, according to real estate consultancy CBRE. Residential transactions jumped 16.7% in June from a month earlier to 5,955 units, according to Land Registry data released Thursday. The total exceeded 5,000 for a fourth straight month, the first such occurrence since late 2021.
