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
Tourists walk through a park in Chicago, on May 26, 2024. Jamie Kelter Davis/Bloomberg via Getty Images Many major U.S. cities have seen apartment prices soar in the past year, even as the typical American has seen pandemic-era rent inflation cool substantially. For example, renters in Syracuse, New York, saw monthly rents for one- and
Hail to the cha-ching. President Joe Biden and First Lady Jill Biden treated their various Delaware real estate holdings like a personal ATM for years, taking out several mortgages and refinancing a whopping 35 times, according to a report. The couple, said to boast a net worth of $10 million, allegedly borrowed $6 million on
Thana Prasongsin | Moment | Getty Images The typical newly built house on the market these days is smaller than those for sale a decade ago. Whether that is a good or bad sign will depend on your priorities for your future home. In the first quarter of 2024, a single family home newly under
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
Ever dream of living in Tony Soprano’s world? Now’s your chance. A TV-famous house in Newark — where the fictional mob boss on HBO’s “The Sopranos” dug up the yard in a vain attempt to retrieve $40,000 — is up for grabs. And it’s all yours for just $579,900. This Essex County property was a star
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.
10’000 Hours | Digitalvision | Getty Images There are areas in the U.S. that are considered to be the least difficult places to buy a home, according to a new real estate indicator. When the counties are sorted by index rank, Iroquois County, Illinois is the least difficult market to buy a home, according to
The move may take a while. A home in a ritzy San Francisco neighborhood, which usually sees property sell for millions, hit the market for a head-scratching price — but prospective owners won’t be allowed to move in for nearly 30 years. The property, which is located two blocks from the city’s northern shore, was
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
Leopatrizi | E+ | Getty Images More built-for-rent single-family homes are being constructed in the U.S., according to the National Association of Home Builders, and experts say this is in part due to the housing affordability crisis. “When mortgage rates move higher, and it’s harder to buy a home, renting becomes more of an option,”
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
Former Google CEO Eric Schmidt just offloaded his sprawling Silicon Valley estate for a cool $22.5 million, barely two months after putting it on the market. The luxurious property, nestled in the ultra-wealthy Bay Area enclave of Atherton, was initially listed at the end of April for $24.5 million. Last week, it officially sold, according
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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