In this article RDFN Stockton, California DenisTangneyJr | iStock | Getty Images After the frenzy of bidding wars, the U.S. housing market is starting to cool, particularly along the West Coast, as mortgage interest rates rise. That’s forcing some sellers to adjust. “Sellers have to be more realistic,” said Bill Kowalczuk, real estate broker at
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Chinese property broker Beike expects housing demand to decline domestically over the next decade. Pictured here on June 28, 2022, is a new commercial residential complex in Nanning, Guangxi Zhuang Autonomous Region, China. Future Publishing | Future Publishing | Getty Images BEIJING — China’s massive residential real estate market is only going to see demand
Average rental prices across the three boroughs of Manhattan, Brooklyn and Queens have reached a new all-time high. Beginning last month, several factors contributed to the exorbitant rental market, including a lack of inventory, rising mortgage rates, peak season and the Housing Stability Tenant Protection Act initiated in 2019 – which put into motion new
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NBC News’ Tom Llamas is joined by real estate broker and reality TV star Fredrik Eklund to break down the cause of a possible housing market slowdown, in addition to opportune places for investors to buy. » Subscribe to NBC News: http://nbcnews.to/SubscribeToNBC » Watch more NBC video: http://bit.ly/MoreNBCNews NBC News Digital is a collection of
Soaring inflation is putting markets on edge and triggering fears of recession. The latest consumer price index this week revealed a searing 9.1% increase year-on-year in June, prompting Treasury Secretary Janet Yellen to say that inflation in the U.S. is “unacceptably high.” The causes behind the steep jumps include high commodity and energy prices triggered
Daniel Acker | Bloomberg | Getty Images More home sellers are dropping their asking prices as rising mortgage interest rates and inflation have slowed down competition in the housing market. Some cities are seeing more price cuts than others. Boise, Idaho, took the lead in June, with 61.5% of sellers cutting their asking prices, according
The average rental price in Manhattan has topped $5,000 for the first time in Big Apple history, according to a jaw-dropping June market report compiled by Douglas Elliman and Miller Samuel. Specifically, the study tallied an average Manhattan rent of $5,058 per month, which alone would set a city tenant back nearly $61,000 a year.
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A Chelsea Tower rental apartments billboard. Jeff Greenberg | Getty Images The average monthly rent for a Manhattan apartment surpassed $5,000 for the first time — and brokers say demand and prices are headed even higher into the fall. The average apartment rent in June was $5,058, the highest on record, according to a report
A “For Sale” sign in Crockett, California, on Tuesday, June 14, 2022. David Paul Morris | Bloomberg | Getty Images As consumers worry more about inflation, fewer are buying homes — and if they are, they’re buying less expensive homes. Mortgage demand fell last week compared with the previous week, and the average loan size
Saul Loeb | AFP | Getty Images If you’re a prospective homebuyer who is having second thoughts, you’re not alone. About 15% of all home contracts fell through in June, marking the highest share of cancellations since March 2020 — the start of the pandemic — when it was 17.6%, according to real estate brokerage
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Boise, Idaho, is booming. The city, which has one of the highest appreciation rates in the country, is quickly becoming one of the hottest markets in the nation. With a stable economy, ample job opportunities, and more affordable housing prices than many of its neighboring states, Boise is becoming a popular destination for residents and
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The last time the U.S. housing market looked this bubbly, property values sharply crashed. Over the past couple of years, double-digit appreciation has been the rule. Buyers were being forced to pay more than the asking prices – sometimes $100,000 more. Since March 2020, home prices skyrocketed by 45 percent, reaching levels that are impossible
‘It’s absolutely insane’ – Viral video captures frenzy at Raleigh open house, competitive housing market
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David Ryder | Getty Images After staggering growth during the pandemic, the U.S. housing Boismarket is starting to cool — and it’s happening fastest along the West Coast. The quickest-cooling real estate market is San Jose, California, according to a new Redfin analysis, which ranked U.S. metropolitan markets based on median sales prices, year-over-year inventory
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