Building Construction

US Home Sales Post Record 10th Straight Month of Declines

Sales of previously owned homes declined 7.7% in November from the prior month to a seasonally adjusted annual rate of 4.09 million, the weakest rate since May 2020, the National Association of Realtors said Wednesday. November sales fell 35.4% from a year earlier. The streak of declines is the longest on record in data going …

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Condos in Manhattan Luxury Building Sell Fast, Signaling Market Resilience

A new boutique condominium in Manhattan’s exclusive Greenwich Village neighborhood sold nearly all its units in 10 days, the project’s developers said, a sign that New York City luxury is still showing some demand even as the broader residential market slumps. Twenty-four of the building’s 28 condos sold within the past few weeks through a …

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China Dials Back Property Restrictions in Bid to Reverse Economic Slide

For much of the past year, China’s economy has been reeling under Xi Jinping’s dual campaigns to rein in soaring property prices and to stamp out any traces of Covid-19 within the country’s borders. Now, as he moves to loosen pandemic restrictions, China’s leader, Mr. Xi, is signaling a reversal of his real estate crackdown, …

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