Met Office: weather increasingly impacted by climate changeTop Republicans reject Trump’s call for election delay By now, it’s evident that low mortgage rates have been driving up the U.S. housing market. It’s not negative 50% anymore, but it’s negative 30% to 40% still.” He added the California market is “tough” although has it improved in July. To order presentation-ready copies for distribution to your colleagues, clients or customers visit http://www.djreprints.com.https://www.barrons.com/articles/redfin-and-realogy-ceos-say-u-s-housing-market-is-strong-51596223499The strength in the U.S. housing market is underscored by recent comments from the CEOs of Unsold inventories remain at just four months of supply at the current sales pace.On the Realogy call on Thursday, CEO Ryan Schneider said: “Today, we are seeing inventory down at least 15% or more in every price band compared to a year ago when inventory was already at historic lows.”Realogy’s closed transactions in New York City declined 50% in the second quarter.
Suburban markets are robust, while New York City remains weak. Property sales in England have rebounded to pre-coronavirus levels, with the number of new sales agreed rising by 137% since the housing market reopened last month. Browse The Independent’s complete collection of articles and commentary on property market. We've detected you are on Internet Explorer. All the latest breaking news on property market. Asked about more recent trends, he said: “So look, New York City is still, by far, the toughest, just given the degree of lockdown and challenges there. The red flags are here. For the best Barrons.com experience, please update to a modern browser. The U.S., Japan, South Korea, Singapore, and other hot markets are struggling with declining demand. Realogy (RLGY) controls such brokerage brands as Coldwell Banker, Corcoran Group and Century 21. And Redfin (ticker: RDFN) reported this week that nearly half of all home buyers in the past year made an offer on a home without seeing it, up from 28% in the same period a year ago. The housing market is projected to see a steep sell-off in the second half of 2020. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. Find the latest news, headlines, blogs and watch video about real estate, housing, mortgages, refinancing, apr and real estate markets from CNBC.com. Suburban markets are robust, while New York City remains weak.
Stephen Brashear/Getty Images for Redfin The bad news is that those conditions are developing once again in 2020 and it won’t be surprising to see the market crash once again in the near future. For the best Barrons.com experience, please update to a modern browser. “New Jersey is on fire,” Schneider noted. Copyright ©2020 Dow Jones & Company, Inc. All Rights ReservedThis copy is for your personal, non-commercial use only.