News

A sign is posted in front of a home for sale on July 14, 2022 in Corte Madera, California. Justin Sullivan | Getty Images Pending home sales, a measure of signed contracts on existing homes, slipped 1% from June to July, according to the National Association of Realtors. Compared with a year ago, sales were

Just months ago, the housing market remained in overdrive: surging home prices, historically low interest rates and unrelenting demand. However, data now suggests to some experts that the market is in a “housing recession.” For example, sales of existing homes in July fell by 5.9% from June, marking the sixth straight month of a decline

A ‘for sale’ sign hangs in front of a home on June 21, 2022 in Miami, Florida. According to the National Association of Realtors, sales of existing homes dropped 3.4% to a seasonally adjusted annualized rate of 5.41 million units. Sales were 8.6% lower than in May 2021. As existing-home sales declined, the median price

An Apartment For Rent sign seen in the Upper East Side of Manhattan. Adam Jeffery | CNBC Rent growth for apartments looks to have peaked after a tremendous run in 2021, and that could boost some of the real estate stocks that were the early darlings of the pandemic. Nationally rents rose just 0.8% between

Hidden behind a stone wall spanning 1,500 feet in one of Connecticut’s wealthiest neighborhoods is a palatial estate with a great room inspired by a Scottish castle. The brick-and-limestone residence, built in 1929, is the most expensive home for sale in New Canaan with a $14.9 million price tag. Prices in the wealthy enclave, about

Former President Donald Trump speaks at a ‘Save America’ rally in support of Arizona GOP candidates on July 22, 2022 in Prescott Valley, Arizona. Mario Tama | Getty Images Former President Donald Trump‘s political action committee, Save America, paid nearly $1 million to civil and criminal defense attorneys in July alone as investigations into him and

“We are a four-generation household,” said Jason Fitzgerald. Fitzgerald, 45, and his wife, Rachel Zack, 41, bought a house with Rachel’s parents Beverly and Arthur Zack, who are in their 70s, and Rachel’s 98-year-old grandmother Lillian, who goes by “Bubbie.” The home has six bedrooms, with five full and two half bathrooms.  They all live

As the severity, intensity and frequency of climate disasters increase, preparation is becoming more crucial than ever to protect lives, as well as infrastructure, businesses and local economies. One high-tech forecasting company is now stepping up, offering hyper-detailed weather prediction and pre-storm strategy plans, right down to a city block.  Boston-based Tomorrow.io already boasts clients

Sales of previously owned homes fell nearly 6% in July compared with June, according to a monthly report from the National Association of Realtors. The sales count declined to a seasonally adjusted annualized rate of 4.81 million units, the group added. It is the slowest sales pace since November 2015, with the exception of a

A customer enters a Home Depot store on August 16, 2022 in San Rafael, California. Justin Sullivan | Getty Images Spending on home improvement doesn’t appear to have taken a big hit with the slowdown in the U.S. housing market, but analysts say the strength may not last. Home Depot and Lowe’s this week cited

Analysts generally expect state-owned enterprises will perform better than non-state-owned developers in the latest real estate slump. Pictured here in Guangxi, China, on Aug. 15, 2022, is a real estate complex developed by state-owned conglomerate Poly Group. Future Publishing | Future Publishing | Getty Images BEIJING — Chinese property developers’ cash flows — a sign

A For Sale sign is posted in front of a property in Monterey Park, California on August 16, 2022. Frederic J. Brown | AFP | Getty Images Mortgage rates fell slightly last week, but not enough to fuel any kind of recovery in consumer demand for home loans. Total mortgage application volume fell 2% from

Rising costs and falling confidence in the U.S. economy are fast becoming a toxic cocktail for the housing market. As a result, a growing number of buyers are backing out of deals they’ve made with homebuilders and sellers of existing homes. Homebuilder cancellation rates have more than doubled since April, according to surveys by John

A worker drills plywood on a single family home under construction in Lehi, Utah, on Friday, Jan. 7, 2022. George Frey | Bloomberg | Getty Images Builder sentiment in the market for single-family homes fell into negative territory in August, as builders and buyers struggle with higher costs. The National Association of Home Builders/Wells Fargo