housing market

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Boomers Throw a Wrench Into Housing Market

Older buyers have the means to edge out younger buyers in a tough market

(Newser) - With mortgage rates soaring and fewer homes for sale, Baby Boomers are dominating the housing market like a real-life game of Monopoly. The shifts in who is buying homes have been trending in that direction for quite some time, but it was confirmed this month by data released from the...

New Ruling Could Be the End of Realtor Commissions

The fallout may also affect up to 80% of real estate agents' future in the industry

(Newser) - A federal jury's ruling will have a profound effect on the careers of the 1.6 million people who sell homes in the US. Per the Wall Street Journal , the National Association of Realtors (NAR) along with two brokerage groups must pay up after the verdict found them guilty...

The Era of the Smaller Home Is Upon Us

Square footage is dropping, as are accompanying home prices, as homebuilders try to attract buyers

(Newser) - With the cost of housing so high these days, it's no wonder that many have given up on the idea of homeownership, at least for the time being. Now, homebuilders appear to have hit on a solution of sorts, at least for those willing to embrace minimalism: erecting smaller...

10 Best and Worst Real-Estate Markets

McKinney, Texas, is tops, with Baltimore last

(Newser) - The housing market has been a volatile arena for a few years now, and WalletHub set out to rank the best places to buy a home in the current state of things. The site used a slew of metrics, including affordability, median appreciation, the number of days homes are typically...

This City Has the Most Overvalued Houses

Homebuyers in Atlanta paying nearly 50% above historical averages

(Newser) - The housing market may have cooled off from last year, but prices remain sky high in much of the country. In Atlanta, for instance, people are paying prices nearly 50% above historical averages there, according to an analysis out of Florida Atlantic University . While that city is tops on the...

This Might Become the Priciest Home in Texas

Lakefront estate in Austin is up for $50M, possibly for rich Californians fleeing their state

(Newser) - An eye-popping asking price for an estate in Texas might be a reflection of the super-rich of California looking for different places to call home. The Wall Street Journal reports that the lakefront compound in Austin has been listed for $50 million, which would make it the most expensive home...

Americans Have Some Big Housing Misconceptions

Mortgage rates aren't historically high, for one

(Newser) - The housing market isn't great, but neither is Americans' understanding of it. So finds a NerdWallet survey released Tuesday. Three standout findings from the survey:
  • About 11% of respondents, which NerdWallet equates to 28 million American adults, say they intend to buy a home over the next 12 months.
...

Opendoor Is Laying Off Almost a Fifth of Its Workers

'We're navigating one of the most challenging real estate markets in 40 years,' CEO says

(Newser) - Online house-flipping firm Opendoor has become the latest company to downsize in the wake of the rapid shift in the housing market. CEO and co-founder Eric Wu said in an email to employees shared on the company blog Wednesday that with a "heavy heart," the company is saying...

For Buyers, Mortgage Rates Hit Unwelcome Milestone

Average 30-year rate is now 7% for the first time in 2 decades

(Newser) - Average long-term US mortgage rates topped 7% for the first time in more than two decades this week, a direct result of the Federal Reserve's aggressive rate hikes intended to tame inflation not seen in some 40 years, per the AP . Mortgage buyer Freddie Mac reported on Thursday that...

He Signed $400K Deal for Home, Was Told to Pay Another $100K

'Toronto Life' explores the chaotic world of Ontario real estate

(Newser) - Toronto is certainly not the only city in recent years to experience a building boom and soaring home prices. Nor is it the only place whose construction industry was upended by pandemic-related supply and labor crunches. But the greater Toronto area had a shortage of affordable housing long before the...

New Real Estate Wrinkle: Reluctant Sellers

Many have a low mortgage rate now, so why sell and possibly double it on a new place?

(Newser) - The housing market is a complex place at the moment, with the Fed's aggressive rate hikes sending mortgage rates north of 6% for the first time in nearly 15 years. Much of the resulting coverage has focused on the buyers' view of things—how those higher rates add hundreds...

Mortgage Demand Hits 22-Year Low
Mortgage Demand
Hits 22-Year Low
Jul 20, 2022 10:50 AM CDT

Mortgage Demand Hits 22-Year Low

The real estate market is cooling amid high rates, high inflation, high prices

(Newser) - While heat waves and wildfires have dominated recent headlines, there’s a major cooling trend in the US housing market. According to the Mortgage Bankers Association's weekly survey, mortgage applications dropped a seasonally adjusted 6.3% last week, per CNBC. That puts mortgage demand at its lowest point since...

US Cities Seeing Most Cuts in Home Prices

In Boise, Idaho, 61.5 of homes on the market saw a reduced price in June

(Newser) - The pandemic saw house prices soar across the country, but higher interest rates and increasing supply are now helping cool the previously red-hot real estate market in many areas. If you're looking to buy now, you're likely to find that prices have been reduced from the original listing...

Mortgage Rates Highest in a Decade
Mortgage Rates
Highest in a Decade
Apr 21, 2022 12:27 PM CDT

Mortgage Rates Highest in a Decade

30-year is now 5.21%, and the effects on housing market already are surfacing

(Newser) - The news won't come as a shock to those currently in the market to buy a house and calculating their monthly expenses—mortgage rates have reached a 12-year high. CNN puts the rate on a 30-year fixed mortgage at 5.11% for the week ending Thursday, the highest since...

They Fled Afghanistan for US. Now They Can't Find Homes

Tens of thousands of Afghans who escaped Taliban now face housing problems in America

(Newser) - After fleeing her home in now-Taliban-controlled Afghanistan, Mozhgan Entazari did everything she could to find a new one for her family in the sunny, palm tree-lined communities of Southern California. The 34-year-old mother of two scoured options on Zillow with her husband, while the family lived at a hotel in...

Here Are the Most, Least Affordable Cities in America

San Diego pushes San Francisco out as the most expensive market

(Newser) - Move over, San Francisco—you can no longer claim the most expensive housing market in the nation. The San Francisco Chronicle reports the city has been "dethroned," by one a little further south, according to a recent report from real estate firm OJO Labs . The new most unaffordable...

Home Prices Rose All Over, but in 2 Regions Especially

National home price index jumped 18.8% in 2021

(Newser) - Last year was the best of times for homeowners and the worst of times for those aspiring to own homes, according to a leading measure of home prices in major US metropolitan areas. The S&P CoreLogic Case-Shiller National Home Price Index was up 18.8% for the year, the...

House Made of Shipping Containers Goes for Millions

The 6,000-square-foot Brooklyn home is actually pretty swanky

(Newser) - Housing prices have gone so crazy that a shipping container in Brooklyn is going for more than 5 million bucks. That's one take, anyway. Another take—it's a lot of shipping containers that make up a pretty cool house and, while hardly a steal, not tragically overpriced. After...

Feds Plan to Make 100K Affordable Homes Available

Biden 'knows we can't wait' to address housing crisis, White House says

(Newser) - The White House says it is taking immediate steps to boost the supply of affordable housing—it will make sure an estimated 100,000 units to be made available to homeowners and renters over the next three years will go to families and nonprofits, not the large investors who have...

'This Might Be the Most Competitive Housing Market' Ever

From Seattle to Wichita, homes are selling for well above list prices

(Newser) - The red-hot US housing market is widening the gap between what a home is objectively worth and what eager buyers are willing to pay for it. Fierce competition amid an ultra-low inventory of homes on the market is fueling bidding wars, prompting a growing share of would-be buyers to sweeten...

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