An aerial view shows a subdivision that has replaced the once rural landscape on July 19, 2023 in Hawthorn Woods, Illinois. Scott Olson | Getty Images After a weaker-than-expected spring housing market, summer looks no better. High home prices continue to rise, mortgage rates aren’t coming off recent highs, and consumers are unimpressed by the
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Home prices set another record in April, even as mortgage rates rose and the supply of homes for sale increased. Usually, under those circumstances, prices would weaken, but today’s housing market is unlike any other in recent history. Prices in April rose 6.3% compared with the year-earlier month, according to the S&P CoreLogic Case-Shiller National
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The Spiral has been a favorite Realty Check subject since we first reported Pfizer would anchor the Tishman Speyer tower back in August 2017. Its strong pulling power — enhanced by its top-floor ZO Clubhouse amenity center  with an open-air terrace — subsequently lured HSBC, Debevoise & Plimpton and Alliance Bernstein among other marquee-name tenants.
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Sales of previously owned homes are sitting at a 30-year low and didn’t move much in May as prices hit a new record and mortgage rates remain high. So-called existing home sales in May were essentially flat, down 0.7% from April to a seasonally adjusted, annualized rate of 4.11 million units, according to the National
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High home prices and stubborn mortgage rates make the current housing market seemingly difficult to navigate—particularly for underserved populations. Several grim numbers tell the story: The gap between Black and white homeownership is worse today than in 1968, when the Fair Housing Act was passed. Lower-income families are 22% more likely to be denied a home
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File photos: “For Sale” sign Brandon Bell | Getty Images Consumers seemed unimpressed by the latest drop in mortgage rates. Total mortgage application volume rose just 0.9% compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($766,550
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