News

A potential home buyer reviews paperwork during an open house in Columbus, Ohio. Ty Wright | Bloomberg | Getty Images November is not historically a strong season for homebuying, but this one, like the rest of 2020, isn’t following any rules. Homebuyer demand is surging again, after taking a slight break around the election. Mortgage

Exterior view of Villa Firenze in Beverly Hills, California Concierge Auctions A $160 million mansion in Beverly Hills, California, is headed to the auction block, making it the most expensive listing ever to auction. The nine-acre estate, called Villa Firenze, will be sold to the highest bidder, with no reserve, by Concierge Auction next month.

A contractor carries wood studs while building a home in Park City, Utah, U.S., on Friday, Aug. 14, 2020. George Frey | Bloomberg | Getty Images The nation’s homebuilders have never been this happy. In November, builder confidence in the construction market for single-family homes soared to its third record high in as many months.

Buying a home is the biggest purchase many people will make in their lifetime. But you shouldn’t value your house like a traditional investment, according to CNBC commentator and co-editor of the new book, “How I Invest My Money.” “It’s really a form of consumption. You own the home as opposed to paying rent for

Housing stocks are standing on shaky ground. That’s according to Matt Maley, equity strategist at Miller Tabak, who says that while the group looks great fundamentally, some weaknesses are beginning to form. “I’ve been bullish on this group for two years now,” Maley told CNBC’s “Trading Nation” on Wednesday. “But sometimes the stocks do a

Sign advertising apartments for rent in the Upper East Side in New York City. Adam Jeffery | CNBC Manhattan real estate may be turning the corner, as new rentals increased for the first time in over a year and sales activity started to creep higher after the Covid collapse. A big drop in rental prices

Rocket Companies CEO Jay Farner in an appearance on CNBC on Wednesday credited the mortgage lender’s investments in technology for its record quarter it reported the day prior. The Detroit-based company, which began trading on the public market in August, posted triple-digit loan volume in the third quarter amid a low interest rate environment spurred

An “Open House” sign is displayed in the front yard of a home for sale in Columbus, Ohio. Ty Wright | Bloomberg via Getty Images Another record low interest rate on the 30-year fixed mortgage last week did not help drag homebuyers out of their recent slump. Declining demand from buyers caused mortgage application volume

Sign advertising apartments for rent in the Upper East Side in New York City. Adam Jeffery | CNBC A sharp increase in the use of online rental applications since the start of the coronavirus pandemic has caused a consequent jump in red flags for fraud. The percentage of so-called fraud triggers detected by TransUnion increased

Rajeev Misra, CEO of the SoftBank Investment Advisers. SoftBank LONDON — SoftBank is considering moving its colossal Vision Fund from London to Abu Dhabi, according to a report from The Financial Times Tuesday, citing anonymous sources familiar with the matter. The Japanese tech giant is said to have been “holding internal discussions” on the matter

Rick Nazarro of Colonial Manor Realty talks with a pair of interested buyers in the driveway as a couple waits to enter a property he is trying to sell during a “controlled” open house on May 2, 2020 in Revere, MA. Blake Nissen | Boston Globe | Getty Images Homebuilder stocks are taking a hit,

People wait to visit a house for sale in Garden City, Nassau County, New York, on Sept. 6, 2020. Xinhua News Agency | Getty Images Volatility surrounding the 2020 presidential election has helped push mortgage rates to their 12th record low this year, giving both homeowners and buyers a boost. The average rate on the

Tenants and housing rights activists in Los Angeles protest for a halt to rent payments and mortgage debt on Oct. 1, 2020. Lucy Nicholson | Reuters If you’re scared that you won’t be able to come up with your rent, you’re not alone. As many as 1 in 5 renters say they’ve fallen behind during

People ride scooters past the Marriner S. Eccles Federal Reserve building in Washington, D.C., U.S., on Tuesday, Aug. 18, 2020. Erin Scott | Bloomberg | Getty Images The Federal Reserve said Thursday it would keep its benchmark interest rate near zero for as long as it takes to help the economy bounce back from the coronavirus crisis. In addition to

Richard ‘Rich’ Barton, co-founder and CEO of Zillow Inc. Andrew Harrer | Bloomberg | Getty Images Zillow shares climbed more than 8% in extended trading on Thursday after the digital real estate company reported third-quarter estimates that blew past analysts estimates and offered a better-than-expected forecast for the fourth quarter. A combination of record low

Apartments for rent in San Francisco. Getty Images For those who want to stay in major cities, the coronavirus pandemic has had one benefit: Rents have fallen in some areas. That means it’s a great time to negotiate a lower monthly payment or snag a deal on a new apartment. In October, the national rent

People wait to visit a house for sale in Floral Park, Nassau County, New York. Wang Ying | Xinhua News Agency | Getty Images Record low rates for both larger loans and low down-payment loans drove an increase in mortgage demand last week. Total mortgage application volume rose 3.8% compared with the previous week, according

People line up to vote at Desert Breeze Community Center on November 3, 2020 in Las Vegas, Nevada. Ethan Miller | Getty Images Just over three million homeowners as of last week were delaying their monthly mortgage payments under forbearance plans launched at the start of the coronavirus pandemic. The bulk of these are government

Brenan Hefner, co-founder and chief operating officer of Analyst Hub, and his family outside of their former home in Pelham, NY. Source: Brian Hefner Like many before him, Brenan Hefner arrived in New York 20 years ago in search of a career on Wall Street. His journey will sound familiar to those drawn to the

Joe Raedle | Getty Images Now that more Americans can work and attend school from anywhere, they are increasingly looking to leave large urban centers for smaller, less dense cities with cheaper housing. As different real estate entities try to measure the migration, certain cities are standout destinations. Santa Barbara, California; Louisville, Kentucky; and Buffalo,

A Sale Pending sign is seen in front of a home in Miami, Florida. Joe Raedle | Getty Images Potential homebuyers may be hitting the limit of what they can afford. Pending home sales, a measure of signed contracts on existing homes, fell 2.2% in September compared with August, according to the National Association of

Pedestrians walk past commercial real estate in Manhattan. Michael Nagle | Bloomberg | Getty Images Decidedly weak quarterly earnings reports from major apartment real estate investment trusts this week paint a bleak picture for some of the largest urban rental markets. The coronavirus pandemic has caused thousands of apartment dwellers to seek safer, larger, single-family

Potential home buyers walk past an ‘Open House’ sign displayed in the front yard of a property for sale in Columbus, Ohio. Ty Wright | Bloomberg | Getty Images Homebuyer demand had mortgage lenders incredibly busy over the summer, but that may have peaked. Mortgage applications to purchase a home, which had fallen for four

Property data and analytics firm CoreLogic has received multiple potential takeover bids that value the company at north of $80 a share, sources tell CNBC’s David Faber. The multiple parties interested in pursuing a deal with CoreLogic include private equity firms, Faber reported citing sources familiar with the talks. The company has already signed a

Strong demand and a limited supply of homes have caused home price gains to accelerate dramatically. Prices beat expectations, rising 5.7% annually in August, up from 4.8% in July, according to the S&P CoreLogic Case-Shiller National Home Price Index. The 10-City Composite posted a 4.7% gain, up from 3.5% in the previous month. The 20-City

Steve Huffman CEO, Reddit, delivers remarks on ‘Redesigning Reddit’ during the third day of Web Summit in Altice Arena on November 08, 2017 in Lisbon, Portugal. Horacio Villalobos | Corbis | Getty Images Reddit said Tuesday it won’t lower pay for employees who choose to move out of high-cost cities following the coronavirus pandemic. That

(Photo: Getty Images | d3sign) SINGAPORE — Commercial real estate prices have plunged this year as people stopped going into offices, and retail businesses were disrupted. That could lead to a significant amount of losses for banks, according to a recent report. In previous downturns, commercial property loan losses were “heavy” and there are worrying

Pedestrians walk past a home with a “Sold” sign in San Francisco. David Paul Morris | Bloomberg | Getty Images Sales of existing homes rose a higher-than-expected 9.5 % in September to a seasonally adjusted annualized rate of 6.54 million units, according to the National Association of Realtors. Sales were up 20.9% annually. Sales could

Kenny Williamson | Moment | Getty Images A local authority in the U.K. is to provide university researchers with a house to test low-carbon technologies, with the collaboration set to gather potentially valuable data which could inform how buildings are designed in the years ahead.  The partnership, between Hull City Council and the University of

Prices in the Hamptons hit new records in the third quarter, as wealthy New Yorkers fled the city and continue to buy homes on the beach, according to a new report. The average sales price in the Hamptons soared 46% in the quarter, to just over $2 million, according to a report from Douglas Elliman