NEW YORK (CNNMoney.com) — For deep-pocketed plutocrats purchasing trophy homes, times are good. There is a glut of mega-mansions on the market — at deep discounts.
On Realtor.com alone there are currently 6,610 listings of houses with interiors larger than 10,000 square feet.
“Buyers are not used to having this amount of inventory,” said Russ Filice, an [...]

(Reuters) – The percentage of U.S. home sellers who cut their asking price rose in April, but price reductions were smaller, real estate website Zillow.com said in a report.  Prices of nearly one in four homes, or 23.2 percent, listed for sale on the Zillow website had been cut at least once as of the [...]

The US housing market will face another retreat while mortgage-backed securities and Treasurys are likely to go through a “material” correction, Meredith Whitney, CEO of Meredith Whitney Advisory Group, told CNBC Tuesday.   ”The housing market surely will double dip,” Whitney told “Worldwide Exchange.” Government programs to support housing have been “murky” and when the modifications caused [...]

WASHINGTON (Reuters) – Contracts for pending sales of previously owned homes unexpectedly fell in January, a survey showed, brought down in part by harsh weather in the U.S. Northeast.  The National Association of Realtors said its Pending Home Sales Index, based on contracts signed in January, fell 7.6 percent to 90.4 from an upwardly revised [...]