A townhouse for sale in the Upper East Side neighborhood of NYC. Adam Jeffery | CNBC Some of the heat is coming out of home prices, even though they’re still higher than they were a year ago. Several new reports show the price gains are shrinking and home sellers are starting to give in after
Real Estate
Tourists walk through a park in Chicago, on May 26, 2024. Jamie Kelter Davis/Bloomberg via Getty Images Many major U.S. cities have seen apartment prices soar in the past year, even as the typical American has seen pandemic-era rent inflation cool substantially. For example, renters in Syracuse, New York, saw monthly rents for one- and
Home prices set another record in April, even as mortgage rates rose and the supply of homes for sale increased. Usually, under those circumstances, prices would weaken, but today’s housing market is unlike any other in recent history. Prices in April rose 6.3% compared with the year-earlier month, according to the S&P CoreLogic Case-Shiller National
10’000 Hours | Digitalvision | Getty Images There are areas in the U.S. that are considered to be the least difficult places to buy a home, according to a new real estate indicator. When the counties are sorted by index rank, Iroquois County, Illinois is the least difficult market to buy a home, according to
Sales of previously owned homes are sitting at a 30-year low and didn’t move much in May as prices hit a new record and mortgage rates remain high. So-called existing home sales in May were essentially flat, down 0.7% from April to a seasonally adjusted, annualized rate of 4.11 million units, according to the National
Leopatrizi | E+ | Getty Images More built-for-rent single-family homes are being constructed in the U.S., according to the National Association of Home Builders, and experts say this is in part due to the housing affordability crisis. “When mortgage rates move higher, and it’s harder to buy a home, renting becomes more of an option,”
A mockup of what Revolut’s new global HQ in Canary Wharf will look like. The firm said it plans to display its logo on two signs on the sides of the new building – mimicking legacy banks like Barclays and Citigroup. Revolut British financial technology firm Revolut announced Thursday that it’s planning to move its
File photos: “For Sale” sign Brandon Bell | Getty Images Consumers seemed unimpressed by the latest drop in mortgage rates. Total mortgage application volume rose just 0.9% compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($766,550
Hong Kong retained its pole position as the world’s most expensive city for expats in 2024, according to Mercer. Chunyip Wong | E+ | Getty Images Asia’s biggest financial hubs have once again clinched the top spots for being the costliest cities for international workers to live in, according to Mercer. Hong Kong was ranked
Row of shophouses in Singapore’s Katong area. Olivier Chouchana | Gamma-rapho | Getty Images SINGAPORE — The ornate, colorful “shophouses” that line the streets in some old neighborhoods of Singapore are not what immediately comes to mind when people think of the city-state. In a country where land is scarce and public housing can cost
The S & P 500 and Nasdaq extended their record rallies this week following cooler-than-expected consumer inflation data Wednesday morning. While Fed rate cuts would likely benefit the overall stock market, several names in the CNBC Investing Club portfolio — from housing plays to autos to biotech — could really get a boost. Connecting the
As sea levels rise and storms intensify, coastal real estate is seeing flooding and erosion like never before. From Dana Point, California, to Long Island, New York and Nantucket, Massachusetts, some of the nation’s priciest coastal real estate is in an increasingly precarious position due to climate change. This year’s hurricane season is already underway,