USA Home Sales Fall Slightly

26 Jun 2024 CW Team

In May 2024, existing-home sales in the USA fell by 0.7%, indicating a slight decrease in market activity. The National Association of Realtors (NAR) reported this decline, noting a seasonally adjusted annual rate of 4.13 million units, down from 4.16 million in April. Factors contributing to this drop include rising mortgage rates, limited inventory, and high prices, which have deterred potential buyers. Despite the overall decrease, sales in the Midwest and Northeast experienced slight gains, while the South and West regions saw declines. Median home prices rose by 3.1% to $405,400, reflecting ongoing affordability challenges. The housing market continues to face headwinds from economic uncertainty and fluctuating interest rates. Inventory levels remain low, with only 1.1 million units available, representing a 2.9-month supply at the current sales pace. Analysts predict that market conditions may improve later in the year as inflationary pressures ease and mortgage rates stabilize. However, the pace of recovery will largely depend on broader economic trends and consumer confidence.

Infrastructure Urban

08 Sep 2025

DRDO Transfers Key Defence Materials Tech to Industry

The Defence Metallurgical Research Laboratory (DMRL) of DRDO in Hyderabad has transferred three advanced indigenous materials technologies to leading Indian industry partners, marking a major step towards self-reliance in strategic defence manufacturing. The Licensing Agreement for Transfer of Technology (LAToT) documents were handed over by Dr Samir V Kamat, Secretary of Defence R&D and Chairman of DRDO, at a ceremony held at DMRL on 30 August 2025.The transferred technologies include:High-Strength Radomes: Transferred to BHEL, Jagdishpur, this technology enables the manufacture of high-p..

Coal Ministry Honours Top Mines for Safety and Sustainability

The Ministry of Coal hosted the Star Rating Award Ceremony in Mumbai to recognise outstanding coal and lignite mines for their achievements in safety, environmental responsibility, scientific operations, and community welfare. Union Minister of Coal and Mines Shri G. Kishan Reddy, accompanied by Minister of State Shri Satish Chandra Dubey and Secretary Shri Vikram Dev Dutt, presented the accolades.The awards celebrate mines that have demonstrated excellence across key parameters such as safety, productivity, scientific mining, environmental stewardship, and socio-economic impact. The Minister ..

Modi Highlights Decade of Bold Economic Reforms

Prime Minister Shri Narendra Modi reaffirmed the government’s steadfast commitment to economic reforms over the past decade, highlighting transformative measures that have redefined India’s fiscal structure and enhanced its global economic position.Citing major initiatives such as corporate tax cuts to encourage investment, the implementation of the Goods and Services Tax (GST) to unify the national market, and reforms in personal income tax to improve Ease of Living, Modi emphasised that the reform agenda has consistently been citizen-focused and pro-growth.He welcomed the ongoing #NextGe..