World news

Southern California house, condominium sales drop 14%

House and condominium sales in Southern California fell 14 percent last month to the lowest level for a June in two decades as buyers struggled to get loans and prices declined, DataQuick Information Systems said.

Texas property markets likely to cool but still outpace U.S

Texas property markets will continue to outpace the nation, but things are likely to cool a bit through next year. “The Texas housing markets are going to be spotty,” said Dr. James Gaines, a research economist with Texas A&M University’s Real Estate Center.

Housing starts in U.S. probably fell in June to 17-year low

Builders probably broke ground in June on the fewest houses in 17 years, signaling the real- estate recession will keep hurting growth, economists said ahead of a government report today.

Irish house prices may fall 45% from 2007 peak

Irish house prices may extend declines and fall as much as 45 percent from their peak as higher mortgage rates, rising unemployment and lack of credit curb property demand, according to Jim Power, chief economist at Friends First.

Canadian urban existing home sales softer in first half of 2008

Ottawa - Canada's urban real estate market saw existing home sales rise marginally in June, but sales in the first half of 2008 continue to be off the pace set in 2007.