Fiji Time: 12:49 AM on Saturday 24 March

Fiji Times Logo

/ Front page / Archives » Article Index

New home sales hit five-month low

Wednesday, February 28, 2018

WASHINGTON - Sales of new US single-family homes fell for a second straight month in January, weighed down by steep declines in the Northeast and South, which could raise concerns the housing market is losing momentum.

The weak report from the Commerce Department on Monday followed data last week that showed sales of previously owned homes dropped for a second consecutive month in January amid near-record low inventory.

It also added to soft January retail and industrial production data in suggesting economic growth slowed at the start of the year.

A severe shortage of houses, especially on the lower end of the market, is pushing up prices and sidelining some first-time buyers.

Economists worry rising mortgage rates, which are near a four-year high, and a cap on the mortgage interest deduction in the overhauled tax code will slow housing demand this year.

Fiji Times Front Page Thumbnail

Kaila Front Page ThumbnailFiji Times & Kaila Frontpage PDF Downloads

Use the free Acrobat Reader to view.

Code Inward TTs Outward TTs
CAD 0.64290.6239
JPY 52.917249.9172
GBP 0.35110.3431
EUR 0.40370.3917
NZD 0.69480.6618
AUD 0.64820.6232
USD 0.49830.4813



Exchange Rate updated on 23th, March, 2018

Today's Most Read Stories

  1. Set academic goals achieved
  2. Teacher 'abused'
  3. Student queries A-G on expats
  4. PM: Take warnings seriously
  5. 7s return
  6. Marist 7s: Tuvalu recruits Fijians
  7. Suspects arrested for robbery caught on video
  8. Tabadamu chases fourth Marist title
  9. No universal vaccine
  10. Good news for fishers

Top Stories this Week

  1. Meningococcal disease outbreak Tuesday (20 Mar)
  2. 'Forced to go' Saturday (17 Mar)
  3. Doctors speak out Sunday (18 Mar)
  4. No desk for this girl Monday (19 Mar)
  5. Where are our horses Sunday (18 Mar)
  6. 12 dead by disease Tuesday (20 Mar)
  7. Police appeal to livestock owners Monday (19 Mar)
  8. Teacher reports male student in washroom for girls Tuesday (20 Mar)
  9. Speaker orders Nawaikula to withdraw accusation Saturday (17 Mar)
  10. SGS junior has fastest 100m time Wednesday (21 Mar)