Congress leader and Rajya Sabha MP Sonia Gandhi (79) has been admitted to Medanta Hospital in Gurugram, sources reported. It added that she has been admitted for a minor medical procedure. The hospital authorities have not released any details about the leader’s health status or the treatment/
The Supreme Court has halted a Madras High Court decision that barred TVK MLA R Sreenivasa Sethupathi from a floor test. The apex court found the high court's action unusual. Sethupathi had narrowly won his seat against a DMK leader. The Tamil Nadu government subsequently won its vote of confidence
The U.S. Senate Banking Committee late on Monday unveiled the text of a long-awaited, landmark bill that would create a regulatory framework for cryptocurrencies ahead of a scheduled committee vote to advance the bill on Thursday. Dubbed the Clarity Act
Pati Patni Aur Woh Do Movie Review: A chaotic caper. One pati. One patni. Two women for anti-climactic reasons. A garrulous aunt. A couple of characters that don’t make sense. Some jokes that land. Some mentions of homophobia, casteism and a social message about how rumours often get perceived as
Indian women's hockey team to tour Australia ahead of Nations Cup in NZIndian women's hockey team to tour Australia ahead of Nations Cup in NZ Published on: May 13, 2026 12:15 PM IST PTI Share via Copy link New Delhi, The Indian women's hockey team will tour Australia for a four-match series from
New home sales in US jump to fastest pace in three years
New home sales in US jump to fastest pace in three years
Sales of new homes in the US surged by more than expected last month as builders ramped up discounts to lure buyers sitting on the sidelines.
New single family home sales rose 20.5% in August to an annualised rate of 800,000 units, the US Census Bureau reported on Wednesday. It was the fastest pace since early 2022 and well above economists' forecasts, signalling a burst of activity in a frozen housing market.
Analysts said the uptick was propelled by price discounts and and other sales incentives from builders, who are grappling with an oversupply of newly-built homes for sale.
Easing borrowing costs, ahead of the Federal Reserve's interest rate cut, also supported the surge, economists noted.
But new homes only account for about 14% of the US home sales. The housing market, more broadly, remains persistently frozen as affordability constraints shut out prospective buyers.
Nancy Vanden Houten, a lead US economist at Oxford Economics, cautioned that the jump in new home sales in August "likely overstates any improvement in housing activity". New home sales tend to be volatile month-to-month, she said.
"Take the gain with a huge grain of salt," economists at Wells Fargo wrote in a research note.
"New home sales are prone to heavy revisions. A flat-ish trend in sales, similar to what has been evident all year, seems more likely," they added.
In a report from the National Association of Home Builders and Wells Fargo this month, 39% of homebuilders said they had cut prices - the highest since the coronavirus pandemic.
At the same time, mortgage rates started to inch down last month, as financial markets priced in expectations for an interest rate cut from the US central bank.
Lower borrowing costs contributed to the spike in new home sales, Thomas Ryan, a North America economist at Capital Economics, said in a research note.
The average rate on the 30-year mortgage, the most popular home loan in the US, has fallen even further this month. It dropped to 6.26% last week, according to Freddie Mac, an ongoing decline that could prompt even more new home sales activity in the coming months, Mr Ryan said.
Chen Zhao, the head of economics research at Redfin, said new home sales - which are based on contract signings, rather than completed sales - might be an early indicator of reaction to lower mortgage rates. But the data tends to be "noisy", she said, and "you do want to see another month of data before you really hang your hat on this".
Mortgage rates still remain roughly double what many homeowners secured during the pandemic. A weakening labour market, combined with persistent home affordability challenges, could keep the housing market in a state of paralysis.
"There is pent-up demand in housing, but affordability remains out of reach for many first-time homeowners," said Eric Teal, chief investment officer at Comerica Wealth Management.
Source: BBC
Related Posts: India’s Power Transmission Capacity Surged From 75 Muslim population In Assam Surged To 39 India’s Fish Production Has Surged By 38% Under PMMSY The Ultimate Sports Super-YA Month-By-Month Blockbuster Calendar Tesla expected to unveil lower-cost Model Y in push to reignite sales Apple TV And HomePod Mini Launch Expected This Month Tesla made $573 million in sales from SpaceX and xAI last year Air Canada flight attendants vote against agreement reached last month Why layering is the new minimalism in homes Hyundai's New Hydrogen Car Sales Hit Around 7
IPL 2026: Sunrisers Hyderabad captain Pat Cummins faced a penalty of INR 12 lakh. This fine was imposed for maintaining a slow over rate during their IPL match against Gujarat Titans. The Sunrisers Hyderabad team experienced a significant defeat in the game
1 days ago
Congress Parliamentary Party chairperson Sonia Gandhi has been admitted to Medanta Hospital in Gurugram. According to news agency ANI, the 79-year-old Rajya Sabha MP will undergo a minor procedure. In March, the senior Congress leader was hospitalised due to a chest-related health concern
1 days ago
Alia Bhatt just landed at Cannes 2026, and while her “watercolour painting" gown was a total mood, everyone is talking about what she eats for glowing skin. In a chat with Marie Claire France on May 12, Alia didn’t talk about high-end facials but put the spotlight on something much closer to
1 days ago
Law college hostels cannot become mere ‘boarding and lodging facilities’: SCA Delhi HC judgment of 2025 had held that law students cannot be barred from appearing in examinations merely due to shortage of attendance. Published on: May 13, 2026 1:46 PM IST By Utkarsh Anand Share via Copy link
1 days ago
The Central Board of Secondary Education has officially declared the CBSE Class 12 Result 2026. Students who appeared for the Senior Secondary board examinations can now access their scorecards through the official CBSE websites and other digital platforms
1 days ago
Brain does visual processing, text prompts are a cognitive bottleneck: Xi ZengFrom visual reasoning to cultural context, Chance AI’s founder and CEO believes AI’s future is about prioritising perception and not just conversation Published on: May 13
1 days ago
Doctor shares early signs of prostate cancer every man must watch out for: Who is at the highest risk?The best way to fight cancer is to detect and start treatment early. Dr Atangwho shares signs to watch out for prostate cancer to help men do the same. Published on: May 13
1 days ago
Kolkata's Maidan circles mourn the passing of Swapan Sadhan Bose, 'Tutu Babu', a former Mohun Bagan President. He died at 79 following a cardiac arrest. Bose was a significant figure in Indian football administration for over three decades. His leadership saw Mohun Bagan embrace foreign players and
1 days ago
Angelina Jolie’s father Jon Voight worried about her plans to leave Los Angeles, pleading her to meet him one last timeJon Voight is finding it difficult to cope with reports that his daughter, Angelina Jolie, is planning to leave Los Angeles. May 13, 2026
1 days ago
The prices of gold and silver in India jumped sharply on Wednesday after the Union government increased import duties on the precious metals, making them more expensive in the domestic market. Gold futures on the Multi Commodity Exchange had risen by nearly 6% to Rs 1.62 lakh per 10 grams as of 10
1 days ago
‘I felt I belonged’: NRI Justin Bhandari on rediscovering Delhi with his Canadian partnerSpeaking to HT.com, NRI Justin Bhandari shares his journey of bringing his partner home to Delhi and finally feeling "normal" and seen. Published on: May 13
1 days ago
A temple festival in Tamil Nadu has sparked intense discussion online after a viral video showed devotees being handed over coins as prasad instead of making offerings at the shrine. The now-viral clip, originally shared on X by user @ramdevkar07, carried the caption
1 days ago
Editorial independence is core to our work. Some links may earn us a commission, without influencing our opinions.Stop throwing away wilted greens: 5 Smart fridges built to survive 48°C heatwavesThese refrigerators are getting up to 45% discount along with exchange offers and massive banking
1 days ago
Amid reports that Mouni Roy and her husband Suraj Nambiar are heading for a divorce, a new report has now claimed that they are already living separately. As reported by Siasat.com, ABP News’ Saas Bahu Aur Saazish claimed on Tuesday that Mouni and Suraj have already separated and are not living
1 days ago
Astrologer Reena Sharma’s predictions on world politics and Indian elections are drawing attention online after a podcast clip featuring her claims began circulating widely on Instagram. The video lists several bold predictions, including BJP victories in Bihar and Bengal
1 days ago
Uber CEO announced that the company is setting up its first data centre in India with the .He shared the update in a post on X while visiting , founder and chairman of the Adani Group.Taking to X, Khosrowshahi said the data centre is being set up to test and deploy the company’s technology
1 days ago
Indian origin Dubai Bling star Farhana Bodi's blue gown at Cannes 2026 is 15 kg of pure sparkle: ‘Thousands of crystals’Farhana Bodi dazzled in a custom gown at Cannes 2026, featuring thousands of crystals and a dramatic architectural collar, complemented by exclusive jewellery
1 days ago
Market Updates Today: Indian benchmark indices extended gains in noon trade on Wednesday, with the Sensex rising over 330 points and the Nifty reclaiming the 23,500 mark, as broad-based buying in metals, banks, FMCG and mid-caps lifted market sentiment after a volatile start to the session
1 days ago
There is no better excuse to play bartender than World Cocktail Day, celebrated every year on May 13. The day marks the first recorded definition of the word “cocktail," published in The Balance and Columbian Repository in 1806, and has since become a global celebration of mixology, creativity
1 days ago
West Bengal Chief Minister Suvendu Adhikari has decided to keep the Bhabanipur Assembly seat. He will vacate Nandigram, where a by-election will be held. Adhikari assured Nandigram residents that their development needs will be met. He drew a parallel to his past support for Nandigram
1 days ago
US President Donald Trump has taken a host of top business and technology industry executives on his trip to China this week. Among those joining the president on his official trip to Beijing are Nvidia's Jensen Huang, Tim Cook of Apple, Elon Musk of Tesla and SpaceX, Larry Fink of BlackRock
1 days ago
‘Give us space and privacy’: Mouni Roy breaks silence on separation rumours from husband Suraj NambiarMouni Roy and Suraj Nambiar are rumoured to have separated after unfollowing each other on Instagram. May 13, 2026, 13:52:29 IST By Santanu Das Share via Copy link For the last few days
1 days ago
Fresh concerns over the state of women’s football in India have erupted after a viral video allegedly involving players from Suruchi Sangha during the ongoing Indian Women’s League 2 (IWL 2) season spread rapidly across social media. The footage, widely circulated on X and Instagram
1 days ago
Bangladesh will not be intimidated by barbed-wire border fences and will not remain silent if killings continue along the boundary with India, Dhaka-based news agency UNB quoted Humayun Kabir, the foreign affairs adviser to Bangladeshi Prime Minister Tarique Rahman as saying on Monday
1 days ago
Is Nancy Guthrie suspect a woman? ‘Feminine features’ and ‘second mask’ theories emerge amid search for missing womanAmid various theories surfacing about the Nancy Guthrie case, one speculation that has emerged is that the suspect may be a woman. Updated on: May 13
1 days ago
CBSE to not release merit list for class 12 board exams. Here’s whyCBSE Class 12 results: A merit certificate to top 0.1% of students who have scored the highest marks in subjects will be issued by the board. Updated on: May 13, 2026 1:57 PM IST By HT Education Desk Share via Copy link The
1 days ago
Michael Mott criminal past: Frontier Airlines suicide victim's dark history revealed; chilling mugshots emergeMichael Mott racked up more than 20 arrests in Colorado dating back to 2002, including for attempted murder. Published on: May 13, 2026 12:49 PM IST By Sumanti Sen Share via Copy link A man
1 days ago
