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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

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

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

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

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

A real estate agent stands in the doorway as Giovani and Nicole Quiroz of Brooklyn, New York visit an open house in West Hempstead, New York. Raychel Brightman | Newsday LLC | Newsday | Getty Images After dropping to record lows in 2020 and 2021, mortgage rates are back up. Way up. While the past

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

FUTURE LIGHT | Photodisc | Getty Images Sales contracts for Manhattan apartments plunged by nearly a third in June as the city’s scorching real-estate market started to cool amid recession fears and declining stocks. New York real estate was on a tear through the early spring, with high prices and strong sales. The median sales

People wait to visit a house for sale in Floral Park, Nassau County, New York. Wang Ying | Xinhua News Agency | Getty Images Mortgage rates dropped for the second week in a row, but that didn’t revive demand from homeowners or potential buyers. Rates fell 10 basis points last week and have declined 24

Lifestylevisuals | E+ | Getty Images Homebuyers are feeling the squeeze of rising mortgage rates. On top of that, housing prices remain high. That may lead many to rethink their budget. “As mortgage rates go up, it raises the cost of buying a home with a mortgage,” explained Danielle Hale, chief economist at Realtor.com. “For

Dubai is seeing its hottest real estate market in years, with sales in the sector up 45% year on year in April and 51% in May, according to the Dubai Land Department. DUBAI, United Arab Emirates – The team at Dubai property firm Mira Estate have reason to celebrate.  The luxury real estate company just

New York State Attorney General, Letitia James, speaks during a news conference, to announce criminal justice reform in New York City, May 21, 2021. Brendan McDermid | Reuters A New York judge held real estate services giant Cushman & Wakefield in contempt of court for refusing to comply with subpoenas issued as part of the

Patchogue, N.Y.: A home for sale, under contract, on Center Street in Patchogue, New York on May 17, 2022. Steve Pfost | Newsday | Getty Images In many areas of the country, homes continue to sell even as rising mortgage rates, high prices and recessionary concerns filter through economy. During the recent real estate boom,

The negative impact of interest rate rises on Australian housing prices, household spending and the volume of dwelling investments may hurt consumer confidence and fuel the likelihood of a recession in Australia, analysts and economists say.  The Reserve Bank of Australia raised interest rates for the third time in a row on Tuesday.  Joining central

Historic row houses in Columbia Heights neighborhood of Washington. amedved | iStock | Getty Images Million-dollar homes aren’t common in the U.S., but you’re more likely to find these properties along the coasts. That’s according to a LendingTree study that ranked the country’s 50 biggest metropolitan areas by the share of owner-occupied properties worth $1

Real estate and related industries account for more than a quarter of China’s economy, according to Moody’s estimates. CFOTO | Future Publishing | Getty Images China’s real estate bonds were once key performance drivers for Asia junk bond funds, but the market share from property bonds has fallen as a result of the country’s property

A “For Sale” sign is seen outside a home in New York. Shannon Stapleton | Reuters A historic housing shortage – brought on by the one-two punch of slow construction and strong pandemic-induced demand – is finally starting to ease. Active listings for homes jumped 19% in June, the fastest annual pace since Realtor.com began

Former U.S. President Donald Trump arrives at Trump Tower in Manhattan on August 15, 2021 in New York City. James Devaney | GC Images | Getty Images A New York judge on Wednesday lifted a contempt-of-court order against former President Donald Trump that was imposed after he failed to comply with a subpoena as part

A pedestrian uses an umbrella to get some relief from the sun as she walks past a sign displaying the temperature on June 20, 2017 in Phoenix, Arizona. Ralph Freso | Getty Images Summer’s here, and it’s a hot one.  Forecasts from the Farmers’ Almanac, the National Oceanic and Atmospheric Administration and The Weather Company

People wait to visit a house for sale in Garden City, Nassau County, New York. Xinhua News Agency | Getty Images After rising steadily for three weeks, mortgage rates dipped slightly last week, prompting a small increase in refinance activity. Activity from homebuyers, however, pulled back further, leaving total mortgage demand basically flat from the

People walk into a house for sale in Floral Park, Nassau County, New York. Wang Ying | Xinhua News Agency | Getty Images Home price increases slowed ever so slightly in April, but it is the first potential sign of a cooling in prices. Prices rose 20.4% nationally in April compared with the same month

A house’s real estate for sale sign shows the home as being “Under Contract” in Washington, DC. Saul Loeb | AFP | Getty Images Pending home sales, a measure of signed contracts on existing homes, rose slightly in May, up 0.7% compared with April, according to the National Association of Realtors. That broke a six-month

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

A “For Sale” sign outside a house in Albany, California, on Tuesday, May 31, 2022. David Paul Morris | Bloomberg | Getty Images Sales of existing homes in May dropped 3.4% to a seasonally adjusted annualized rate of 5.41 million units, according to the National Association of Realtors. Sales were 8.6% lower than in May

As quickly as mortgage rates are rising, the once red-hot housing market is cooling off. Home prices are still historically high, but there is concern now that they will ease up as well. All of this has people asking: Is today’s housing market in the same predicament that it was over a decade ago, when

Skandar Mrad, shown here on vacation in Italy, is looking for a home in the Los Angeles area. When Skandar Mrad decided late last year to buy his first house, his top priority was location. Mrad, a gay man living in the Los Angeles area, has spent much of his adult life commuting several hours

Getty Images For homeowners, big projects and purchases may be another casualty of rampant inflation, new research suggests. Overall, 60% of homeowners in a recent survey are less comfortable making large purchases for their home or household because of rising prices, according to Hippo Insurance’s 2022 Homeowner Preparedness Report. And 43% either strongly (14%) or