A for sale sign is seen next to a house in Arlington, Virginia on May 6, 2020. Andrew Caballero-Reynolds | AFP | Getty Images Sales of existing homes soared 24.7% in July compared with June, according to the National Association of Realtors. These numbers represent closed sales, meaning contracts signed in May and June. That
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Even as the pandemic rages on, many eviction protections are coming to an end. No-Mad | iStock | Getty Images President Donald Trump said earlier this month that he didn’t want people evicted during the pandemic and that his executive action “will solve that problem largely, hopefully completely.” Experts disagreed, since the president was only
People party on a rooftop in Kips Bay as the city continues Phase 4 of re-opening following restrictions imposed to slow the spread of coronavirus on August 1, 2020 in New York City. Noam Galai | Getty Images Airbnb announced Thursday a global ban on all parties and events at its listings for health reasons.
This Black borrower has an outrageous story about his mortgage refinance. When the coronavirus struck the U.S. in early spring, and the stock market went into freefall, mortgage rates began to plummet as well. Thousands of homeowners rushed in to refinance their loans, getting much-needed savings on their monthly payments. Akili Akridge, a Black homeowner
Palantir Technologies CEO Alex Karp arrives at the “Tech for Good” Summit in Paris, France May 15, 2019. Charles Platiau | Reuters Data analytics software company Palantir Technologies is relocating its headquarters to Denver, Colorado from Palo Alto, California, CNBC confirmed Wednesday. The company updated its website where it now lists Denver as the site
Real estate agents leave a home for sale during a broker open house in San Francisco, California. Justin Sullivan | Getty Images A sudden turnaround from record low interest rates last week caused a pullback in mortgage refinance demand. That pulled total mortgage application volume down 3.3% from the previous week, according to the Mortgage
Noel Hendrickson/Getty Images Have you found yourself daydreaming about, or even looking for, that next new home? With interest rates at historically low rates and people stuck at home with the enhanced ability to work remotely, many people find themselves actively hunting for that next place to call home. Home sales have been steadily increasing
NBA legend-turned-real estate investor David Robinson told CNBC on Monday that he believes the coronavirus pandemic has not ushered in the end of corporate offices, despite the widespread work-from-home shift during the crisis. “The socialization, the amount of work, the quality of work you get done when you’re collaborating with your people in the office
Potential buyers continue to flood into model homes across the nation, and that has builders feeling better about their business than they have in over 20 years. But rising lumber prices could sap the market’s momentum this fall. Builder confidence in the newly built, single-family home market jumped six points to 78 in August on
The number of empty apartments for rent in Manhattan soared to their highest level in recent history, topping 13,000, as residents fled the city and landlords struggled to find new tenants. The number of apartments for rent, or listing inventory, more than doubled over last year and set a new record in the 14 years
The off-price chain Stein Mart, which announced Wednesday it had filed for Chapter 11 bankruptcy protection, will officially be closing all of its stores for good. The company’s liquidators — a team of Gordon Brothers, Hilco Merchant Resources, Tiger Capital Group, B. Riley Financial’s Great American Group and SB360 Capital Partners — announced Thursday morning that Stein Mart
Signage stands outside the Freddie Mac headquarters in McLean, Virginia, U.S., on Tuesday, Oct. 1, 2019. Andrew Harrer | Bloomberg | Getty Images Consumers will have to pay more to refinance their mortgages after Fannie Mae and Freddie Mac announced that they are raising fees for lenders on the loans. The change is designed to
Prospective home buyers arrive with a realtor to a house for sale in Dunlap, Illinois. Daniel Acker | Bloomberg | Getty Images Two straight weeks of new record low mortgage rates brought consumers back to their lenders, but rates may now be reversing course. Mortgage application volume rose a significant 6.8% last week compared with
Vital Vio’s lighting goes into home products, like Ellumi brand’s under-cabinet lighting and Broan-Nutone’s antimicrobial ventilation systems. Its technology uses visible light to kill cells of bacteria, mold and fungi, but not Covid-19 specifically. Vital Vio The coronavirus pandemic is altering every aspect of how we live, especially what we want from our homes. Beyond
Nima Ghamsari, co-founder and chief executive officer of Blend, speaks during the Sooner Than You Think conference in Brooklyn, New York, Oct. 16, 2018. Alex Flynn | Bloomberg | Getty Images Digital lending start-up Blend raised $75 million in fresh funding amid surging demand for streamlined mortgage applications during the coronavirus pandemic. The move values the
Alaina Lattin and her family Alaina Lattin was served an eviction notice last month at her home in Conroe, Texas. “It was a very loud banging,” Lattin, 32, said. “They just kept screaming, ‘Leasing office! Leasing office!'” Now, the single mother is worried that she and her four children will become homeless. Lattin is one
Adobe CEO Shantanu Narayen told CNBC on Tuesday that he believes there are inherent benefits to being in an office that widespread remote work, which became a necessity during the coronavirus pandemic, cannot necessarily provide. “Projects which are well underway, we’ve seen tremendous momentum continue, but when you’re trying to create a new project, you
A banner against renters eviction reading no job, no rent is displayed on a controlled rent building in Washington, DC on August 9, 2020. (Photo by Eric BARADAT / AFP) (Photo by ERIC BARADAT/AFP via Getty Images) ERIC BARADAT | AFP | Getty Images The executive action President Donald Trump took on Saturday doesn’t give
The Chinese government’s efforts to tamp down speculation in property markets will mean that funds will flow to equities instead, allowing for more upside in onshore equities, an economist said on Tuesday. “We think the liquidity will likely go to the equity market,” said Zhiwei Zhang, president and chief economist at Pinpoint Asset Management. Although
New Hampshire’s governor said New Yorkers are pouring into the state due to high taxes and fear for their safety amid the Covid-19 crisis. “We’re booming,” New Hampshire Gov. Chris Sununu told CNBC. “People are coming from all across the country, especially in the Northeast. You’re in New York, you have a mayor who doesn’t
People stand along Victoria Harbour in the Tsim Sha Tsui district as Bank of China Tower, center left, and other buildings on Hong Kong island stand in Hong Kong, China. Justin Chin | Bloomberg | Getty Images Working from home has become the norm during the coronavirus pandemic, and Morgan Stanley predicts that office tenants
Despite the global pandemic, Dubai has seen “impressive levels” of real estate transactions over the past few months, the chief commercial officer of a United Arab Emirates-based property developer said last week. Aqil Kazim of Nakheel’s comments come even as real estate transactions in the second quarter of 2020 plummeted 38.8% compared to the same
Tenants and housing activists in Brooklyn, New York, protested in a Bushwick park on July 5. Erik McGregor | Getty Images Negotiations over the next coronavirus stimulus package on Capitol Hill ended the week in a stalemate. But there’s one form of help lawmakers reportedly agree on: a second set of stimulus checks. This week’s
Manhattan’s West Side is becoming a destination for Big Tech. Facebook recently inked a deal to lease 730,000 square feet of office space in the Farley Building in midtown Manhattan. Bill Rudin, CEO and co-chairman of Rudin Management Company and chairman of the Real Estate Board of New York, joins “Squawk Box” to discuss the
A pool under construction in Washington, DC. Pat Pugliese | CNBC There is a lot of activity in Justin Sullivan’s backyard, as workers hammer out his new deck, and jackhammers pound through the basement. Concrete for the new pool has already been poured. The Sullivans had planned a renovation before the pandemic hit, but then
Richard ‘Rich’ Barton, co-founder and CEO of Zillow Inc. Andrew Harrer | Bloomberg | Getty Images The U.S. real estate market is beginning to show signs of a “great reshuffling,” as people relocate to homes with more privacy and space to ease working from home, Zillow CEO Rich Barton said on the company’s Q2 2020
Cushman & Wakefield CEO Brett White told CNBC on Friday that he believes the size of the remote workforce may double as a result of the coronavirus pandemic. But, he added, the vast majority will ultimately return to the office. “If right now roughly 4.5%, 5% of the workforce is permanently at home … pre-Covid,
The parent company of the largest mortgage lender in the United States is set to debut on the NYSE Wednesday. Rocket Companies, the parent company of Quicken Loans, is expected to price their IPO at $18, and sell 100 million shares. Dan Gilbert, founder and chairman of Rocket Companies, and Jay Farner, CEO of Rocket
Ahead of his firm’s NYSE debut Thursday, Dan Gilbert told CNBC that Rocket Companies may make acquisitions to further leverage its mortgage-lending technology. “We want to use our stock as currency and potentially acquire more fintech organizations and put them in the mold,” said Gilbert, chairman of Rocket Companies, which he founded in 1985. Rocket Companies
A for sale sign is seen next to a house in Arlington, Virginia on May 6, 2020. Andrew Caballero-Reynolds | AFP | Getty Images Mortgage rates fell to another record low this week, the eighth record set this year. But home affordability is weakening as the housing shortage, high demand from buyers and rising home