US real estate news

US Housing Market Nearing a ‘Vicious Cycle’ Amid Worsening Affordability Crisis

More than 31.3% of American households were cost-burdened last year, which means they spend more than 30% of their income on housing costs.

September Home Sales Dropped To Lowest Level in 14 Years Amid High Mortgage Rates, Lack of Options

Home sales fell by 1% in September, lagging in three of the four major regions in the US. Sales of previously owned homes fell by 1% in September compared to August, marking the lowest level recorded since at least October 2010.

House Judiciary Panel Subpoenas Biden-Harris Administration Over Taxpayer-Subsidized Homes for Illegal Immigrants

The House Judiciary Committee is compelling the administration to provide information on its spending on a taxpayer-subsidized program that houses illegal immigrants in the US.

Billionaire Investors Behind Rising Housing Costs, Homelessness in the US: Study

A report suggested that real estate investors are scooping up affordable properties and turning them into short-term rentals or keeping them vacant. This drives up prices in the housing market.

Biden Administration Will Award $250M for the Development of Affordable Housing Units, Community Facilities

The program is expected to result in 26,400 affordable housing units across the United States. The Biden administration will award $250 million to developers to create nearly 30,000 units of affordable housing across the country.

10 US Cities Where Investors Can Find Reasonably Priced Homes

The high cost of homeownership has pushed buyers out of the market. However, some cities still offer reasonably priced homes for real estate investors.

Home Prices Plummeting in US Boomtowns, Especially in These 10 Popular Places

Home-listing prices in all metro areas in the US dropped by as much as 12%. The median home price also fell by 1% year-over-year in September.

Zillow Adds Climate Risk Data on Home Listings To Help Buyers Assess Potential Damage From Extreme Weather

The new climate risk feature will show buyers how vulnerable each home for sale might be to extreme weather events in the next 30 years.

Florida Homes Sustains Extensive Damage, Power Outages Due to Hurricane Milton

The storm brought intense rainfall that damaged at least 100 homes and caused power outages. Hurricane Milton barrelled through Florida's west coast Wednesday evening, spawning tornadoes and battering homes and infrastructure.

Mormon Church Buys 46 Additional Farms Across Eight States for $289M, Becomes a Major Player in US Agriculture

The Mormon Church bought more than 41,000 acres of farmland through its Utah-based real estate investment company.

Hamptons Town Sued for Rejecting Affordable Housing Project For Veterans, Disabled People

The nonprofit behind the affordable housing project said Southampton discriminated against people with mental illness when it rejected the proposal.

Nearly 50% of Home Buyers in the US Use This Simple Strategy To Lower Their Mortgage Rate and Payments

Buying a point could bring down the mortgage interest rate by around 0.25%. Nearly half of all home buyers in the United States are buying points as part of an effort to lower their mortgage rates, and consequently their monthly payments, amid the country's housing affordability crisis.

Florida’s Biggest Insurer Cuts 600,000 Policies as New Category 5 Storm Comes

The insurer will hand over the policies to 10 private insurance carriers in late October and November.

US Housing Market Will Come ‘Roaring’ Back After the 2024 Presidential Election, Real Estate Expert Says

Ryan Serhant, a real estate broker known for Million Dollar Listing, said he is optimistic about where the market is headed in 2025 after the November elections.

US Home Will Be Affordable If Prices Fall By More Than $100,000

An expert said that the housing market would become more affordable for prospective buyers if home prices fell by more than $100,000.

JD Vance Blamed Immigrants for Soaring Home Prices

During the recent vice presidential debate, Vance blamed illegal immigrants in America as a key driver of home prices in the housing market. That may only be "partially true."

You Can Now Own a Tiny Home From Amazon and Walmart for Just Under $20K

The tiny, prefabricated homes sold on Amazon and Walmart can be customized and expanded to the buyer's needs.

Buyers Still Expect Sellers To Pay for Agent Commissions Despite Changes to NAR Rules: Survey

NAR changes no longer require sellers to cover the commission of buyer agents. Still, 80% of buyers expect home sellers to cover their agents' fees.

Homes in the US Likely To Become Affordable Again in 2030, Expert Says

An analyst for Goldman Sachs said the housing affordability levels in the US are currently at record lows as home prices continue to soar.

US Starter Homes Now Cheaper Than It Was a Year Ago as Mortgage Rates Dip: Report

Hopeful buyers now need to earn $76,995 to afford a typical starter home, down from the $77,343 income required in August 2023.

US Housing Affordability Could Improve Soon as a Record Number of Apartments Will Be Completed This Year: Report

More than 500,000 new apartment units are expected to go online by the end of the year, which could bring home prices down.

EDITOR'S PICKS

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  Gov. Gavin Newsom Expedites Temporary Housing For Residents In Areas Struck By LA Wildfires

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  Pasadena Native Lost Her House To LA Wildfires One Day After Paying Off Her Mortgage: 'It's Gone'

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  How The Mircale Malibu Mansion And Pacific Palisades Home Survived The Devastating LA Fires

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  What Happens To Your Mortgage And Property Tax When You Lose Your Home In A Natural Disaster?