U.S. home prices will decline less than previously expected this year before stagnating in 2024, despite widespread expectations interest rates will remain higher for longer, according to property analysts polled by Reuters.
Xiaomi Corp reported a 18.9% drop in quarterly revenue on Wednesday as consumer demand for smartphones remained weak even as the economy recovered from the COVID-19 pandemic.
Chinese smartphone maker Xiaomi Corp on Tuesday reported a smaller than expected 8.2% rise in third-quarter revenue, hurt by intensifying competition from domestic rivals Oppo and Vivo.
U.S. home sales unexpectedly rose in October, reaching their highest level in nine months, though higher prices amid tight supply continued to sideline first-time buyers from the market.
U.S. home prices are rising rapidly because of low interest rates and as people seek out living space during the COVID-19 pandemic, but the trend doesn't yet pose big risks for financial stability, New York Federal Reserve Bank President John Williams said on Thursday.