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After hitting a five-year high in June , new-home sales plummeted in July, according to data released today by the U.S. Census Bureau and the Department of Housing and Urban Development. Sales of new single-family houses in July dropped a seasonally adjusted 13.4 percent month over month to an annual rate of 369,000, but were up 6.8 percent from a year before, according to the Census Bureau. The median sales price of a new home sold in July was $257,200, the report said. The report added that the seasonally adjusted estimate of new houses for sale at the end of July was 171,000, representing a supply of 5.2 months at the current sales rate read more Bedford New York Real Estate | Bedford NY Homes by Robert Paul Realtor » Blog Archive » New-home sales plummet | Chappaqua Real Estate
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U.S. state attorneys general are pressing four banks to accept a legal settlement over botched foreclosures similar to a deal reached with larger competitors this year, according to three people briefed on the matter. U.S. Bancorp (SFBC) , PNC Financial Services Group (PNC) Inc., SunTrust Banks Inc. (STI) and HSBC Holdings Plc (HSBA) have held talks with state and federal officials who investigated claims that loan servicers mishandled foreclosure documents, according to the people, who spoke on condition of anonymity because the talks are private. U.S. Bancorp Said to Join PNC in Talks on Mortgage Settlement Jeff Kowalsky/Bloomberg Mortgage servicers typically handle billing and collections, as well as foreclosures when borrowers fail to pay. Neil Brazil , a spokesman for HSBC’s North America unit, said in an e-mail that the London-based lender has conducted “preliminary discussions with its bank regulators and other ...
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