Home foreclosures fell 29% to 1.17 million during the first six months of this year compared to the first half of 2010, according to RealtyTrac’s Midyear 2011 Foreclosure Market Report. The findings also show foreclosures for the second quarter to be the lowest since the end of 2007.

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Home construction in the United States is all but coming to a halt.

Americans are on track to buy fewer new homes than in any year since the government began keeping data almost a half-century ago. Sales are now just half the pace of 1963 — even though there are 120 million more people in the United States now.

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New-home construction plunges in February to second-lowest level on record

Builders broke ground last month on the fewest homes in nearly two years and cut their requests for permits to start new projects to a five-decade low. The decline in construction activity is the latest evidence that the housing industry is years away from a recovery.

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The recent run of UK house price falls have wiped out most of the gains seen to property values during the past year, figures showed today.

The average cost of a home dropped by a further 0.3 per cent during November – around £40 a day for the average house -  following a 0.7 per cent slide in October.

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