Housing

The median asking rent in the U.S. increased 7.8% annually in October to $1,983, the smallest increase in 14 months. Following over a year of double-digit price hikes in the rental market, October saw the second consecutive month of rent growth in the single digits. Additionally, yearly rent growth...

The real estate market is so hot that buyers are staying away. Existing home sales dropped 5.9% from September to a seasonally adjusted annual rate of 4.43 million in October, according to Redfin Corp (NASDAQ: RDFN), and were down 28.4% year over year. That represents the largest year over year...

Although rising mortgage rates and home prices have severely reduced affordability this year, sales of new single-family homes in the U.S. unexpectedly increased in October. The Commerce Department said on Wednesday that new home sales increased 7.5% last month to 632,000 units on a seasonally...

Surviving employees at Twitter's European headquarters have an issue with new CEO Elon Musk’s recent demand that everyone return to the office; they need to find somewhere to live. What Happened: According to Bloomberg, Dublin, where the software company maintains an office and once...

Buyers waiting on the sidelines to purchase a home are waiting for two things to happen: A reduction in mortgage interest rates, and a reduction in home values. While the Federal Reserve’s hikes to their Fed Funds rate will determine where interest rates go, the expected reduction in home...

According to a mid-October Moody’s analytics report, Americans are spending nearly $450 more each month to purchase the same goods and services that they bought a year ago as a result of high inflation. The majority of budgeting advice emphasizes reducing recurring discretionary costs like...

As the economy teeters on the brink of a recession, potential home buyers wrestling with high-interest rates, low affordability, and overpriced homes are asking themselves how to build the wealth they need to purchase their first primary residence. According to a consumer insights report issued by...

In July 2020, lumber prices began to soar as the COVID-19 pandemic supply chain chaos kicked in. Surprisingly, lumber began rising before many other commodities such as wheat, corn, WTI crude oil, Brent crude oil and natural gas. Why This Matters: Lumber can be seen as a leading indicator...

Mortgage rates dropped significantly last week as a result of U.S. Bureau of Labor Statistics statistics that showed inflation had slowed in October, which is a boon for potential home buyers. According to Freddie Mac, the average 30-year fixed rate dropped by 47 basis points, from 7.08% to 6.62%,...

If adhering to the 30% rule, the typical U.S. homebuyer must earn at least $107,281 per year to afford the $2,682 monthly mortgage payment on the typical U.S. home. That number is up 45.6% from the $73,668 needed a year ago – the result of persistently high housing prices paired with mortgage...

Investors look to home remodeling retailers Lowe's Companies Inc. (NYSE: LOW) and Home Depot Inc. (NYSE: HD) for information on the state of price inflation and demand in the home building and renovation industries. Home Depot, which issued earnings on Tuesday, beat consensus estimates on...

Real estate duo Tal and Oren Alexander, most known for co-representing the buyer of a 24,000 square foot penthouse sold for $238 million in 2019, which was the most expensive residential home transaction in the U.S., know what it takes to make it in the luxury real estate market. Founding their own...

Mortgage rates dropped significantly last week as a result of U.S. Bureau of Labor Statistics statistics showing that inflation had slowed in October, which is good news for potential home buyers as well as the economy as a whole. According to Mortgage News Daily, the 30-year fixed rate average...

It might seem impossible to find a cheap home in the U.S., considering that the median sales price for an existing home in September was $470,600. In addition to rising home prices, high mortgage rates have caused homebuyers' monthly housing costs to increase by hundreds or even thousands of...

House affordability for the majority of first-time homebuyers has been shattered by stubbornly high prices and mortgage rates that have hit 22-year highs. The median income required to buy a normal home has increased to $88,300, according to the National Association of Realtors (NAR). This is...