Financial Services Roundup: Market Talk

The latest Market Talks covering Financial Services. Exclusively on Dow Jones Newswires at 4:20 ET, 12:20 ET and 16:50 ET.

1036 ET – The U.S. luxury housing market is showing two distinct personalities, according to Realtor.com. While the national entry point for luxury softened, falling 2.2% year-over-year to $1.22 million, a deeper dive into metro trends reveals a split between local hotbeds of intense competition and markets where price corrections are effectively re-engaging buyers and boosting sales. The report identifies a group of metros, including Heber, Utah; Boise City, Idaho; and Minneapolis, Minn. where rising prices are coupled with a faster sales pace, signaling strong buyer competition for limited inventory. Conversely, markets such as Bridgeport, Conn; Charleston, S.C., and Atlantic City, N.J. are witnessing significant price drops that are successfully clearing inventory, leading to dramatically shorter days on the market. ([email protected])