housing market – News Stories About housing market - Page 1

Americans Have
Some Big Housing
Misconceptions

Jan 25, 2023 4:09 PM CST

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

Nov 2, 2022 6:50 PM CDT

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 First Time in 20 Years, Mortgage Rates Start With a 7

For Buyers, Mortgage Rates
Hit Unwelcome Milestone

Oct 27, 2022 9:35 AM CDT

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

longform

Oct 23, 2022 2:10 PM CDT

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 Factor in Home Sales: 'Golden Handcuffs' of Sellers

New Real Estate Wrinkle:
Reluctant Sellers

Sep 24, 2022 1:30 PM CDT

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

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

Jul 16, 2022 10:00 AM CDT

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

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

Mar 5, 2022 11:30 AM CST

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

Mar 5, 2022 10:00 AM CST

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

Feb 22, 2022 7:36 PM CST

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

Sep 6, 2021 3:25 PM CDT

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

Sep 1, 2021 12:36 PM CDT

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

May 28, 2021 2:00 PM CDT

'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...

US Mortgage Rate Hits
'Tremendous Benchmark'

Jul 16, 2020 2:50 PM CDT

US Mortgage Rate Hits 'Tremendous Benchmark'

'It's also an indication that we remain in a crisis here,' says an economist at Zillow Group Inc

(Newser) - Looking to buy a house? The average 30-year fixed mortgage has sunk below 3% for the first time in Freddie Mac's long history of tracking America's most beloved home loan, the Wall Street Journal reports. It's a "tremendous benchmark," says a Zillow Group Inc economist...

Pending Home Sales Saw
Record Rebound in May

Jun 29, 2020 6:09 PM CDT

Pending Home Sales Saw Record Rebound in May

'The outlook has significantly improved'

(Newser) - The number of Americans signing contracts to buy homes rebounded a record 44.3% in May after a record-breaking decline the previous month, as the impact of the coronavirus pandemic sidelined both buyers and sellers. The National Association of Realtors said Monday that its index of pending sales rose to...

Manhattan Home Prices
Fall Under $1M—but Why?

Jan 6, 2019 6:46 AM CST

Manhattan Home Prices Fall Under $1M—but Why?

A luxury-condo boom is only part of it

(Newser) - What a deal, folks: You can now buy a Manhattan home for less than $1 million. The city's median price for condos and co-ops in the fourth quarter slipped 5.8% from a year before and hit $999,000, the first sub-million mark since 2015—and those who sold...

Here, 6-Figure Salary
Qualifies as 'Low Income'

Jun 26, 2018 10:39 AM CDT

Here, 6-Figure Salary Qualifies as 'Low Income'

Welcome to the Bay Area

(Newser) - From Miami to Detroit to San Antonio, an annual household income of $117,400 puts you firmly in the "high income" group. You'd even land in the upper middle class in New York City, per Business Insider . Not so in San Francisco. Further cementing the city's reputation...

Home Destroyed by Fire
Could Be Yours for $800K

Apr 12, 2018 6:26 AM CDT

Home Destroyed by Fire Could Be Yours for $800K

Welcome to San Jose

(Newser) - It's certainly not the prettiest house on the block. But a burned-out home on a 5,800-square-foot lot in Silicon Valley could be yours if you have $800,000 to spare and act fast. "This is what it's worth," realtor Holly Barr tells KTVU of the...

Want Fewer Neighbors?
Try These Ghost Towns

Nov 16, 2017 10:19 AM CST

Want Fewer Neighbors? Try These Ghost Towns

Vacancy rates top 20%: 24/7 Wall St.

(Newser) - Not willing to spend up to 98% of your income on housing in states like California or Hawaii? A ghost town in desperate need of humanity might be the best affordable option. Based on vacant property rates per zip code, 24/7 Wall St. rounds up 30 ghost towns across the...