Housing

Sales of previously owned homes tumbled in September as home ownership became increasingly unaffordable for many prospective buyers thanks to higher mortgage rates.

The housing market could slow even further this year, according to one economist, who expects prices to tumble 20% as mortgage rates crush consumer demand.

Mortgage rates have more than doubled over the past year, pushing many prospective homebuyers out of the market, even as home prices remain near a record-high.

Sen. Mitt Romney, R-Utah, is selling his $11.5 million mansion inside a world-class ski resort in Utah. Romney also recently sold a $23 million mansion in La Jolla, California.

Mortgage rates that have doubled over the past year are sapping demand from the housing market, which saw price growth decelerate at the fastest pace on record in August.

Home builders have learned lessons since the mortgage backed security housing crisis and Great Recession of 2007, 2008, and 2009, taking less risk with borrowing.

Sales of previously owned houses fell in September for the eighth consecutive month as rising interest rates pushed potential homebuyers out of the market.

Rising interest rates are starting to cool the housing market, with new U.S. home construction plunging in September after unexpectedly rising the previous month.

Health care will be the focus of Wednesday's third-quarter earnings reports as Elevance Health and Abbott Labs are among companies reporting earnings.

Builder sentiment in the market for single-family homes tumbled in October to the lowest level in two years, indicating the housing market is officially in a recession.

A new report found estimated insured and uninsured damages in Florida and impacted states following Hurricane Ian total between $41 billion and $70 billion.

Wall Street firms predict a sharp decline in U.S. home prices in coming months as the Federal Reserve raises interest rates at the fastest pace in decades.

High inflation and rising borrowing costs have proven to be a lethal combination for the housing market, forcing potential buyers to pull back on spending.

Sales of previously owned homes tumbled in August as home ownership became increasingly unaffordable for many prospective buyers thanks to higher mortgage rates.

The Federal Reserve's fight against inflation and a housing shortage could send mortgage rates soaring above 7%, according to Bank of America economists.

New single-family home purchases surged nearly 29% in August from the previous year, jumping more than expected as homebuyers tried to lock in lower mortgage rates.

Home prices in July climbed 15.8 compared with the same month one year ago, a sign that steeper borrowing costs may be starting to cool the housing market.

The U.S. housing market is in a recession, and prices are likely to plunge 20% over the next year as rising mortgage rates take their toll on consumer demand.

Home and rent prices are soaring across the U.S. after years of high demand and low inventory, and one expert points to local governments as the cause.

Sales of previously owned houses fell in August for the seventh consecutive month as rising interest rates pushed potential homebuyers out of the market.