Home prices

Even though higher mortgage rates are starting to curb housing prices, the share of first-time homebuyers has fallen to a historic low, according to the National Association of Realtors.

Voters approved more money for affordable housing around the country

1:12pm November 09, 2022

by Jennifer Ludden

Skyrocketing rents and home prices have been a major part of voters' economic pain. New spending will go toward building and subsidizing more housing, and helping people avoid homelessness.

Mike Johansen stands by the door of the camping trailer where the couple is living while they wait for construction on their new home to be finished.

With mortgage rates near 7%, the housing party is over. Now it's hangover time

1:13pm October 12, 2022

by Chris Arnold

Higher rates are dashing the dreams of some would-be homebuyers while others stretch to buy but spend close to $1,000 a month more in monthly payments for a typical house.

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Both home prices and the pace of home sales are falling nationally as higher mortgage rates cool off the market.

Economy

Home prices see biggest drop in 9 years, thanks to higher mortgage rates

3:02pm September 21, 2022

by Chris Arnold

The super-heated housing market is cooling off. Home prices have fallen about 6% since their peak in June. The pace of sales also fell for the 7th straight month.

Katrina Wooten signed a contract to buy this home that's under construction near Gainesville, Fla. Then mortgage rates jumped sharply higher.

Adjustable rate mortgages can be cheaper but risky. Here's what you need to know

5:00am September 10, 2022

by Chris Arnold

With mortgage rates up sharply, many more homebuyers are turning to adjustable rate loans. These can be more affordable, at least at first. But they come with a big risk. Is it worth it?

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Contractors work on the roof of a house under construction in Louisville, Ky. A new study shows the U.S. is 3.8 million homes short of meeting housing needs.

There's a massive housing shortage across the U.S. Here's how bad it is where you live

2:48pm July 14, 2022

Hundreds of cities and towns are seriously short of housing, both homes to buy and rentals, according to a new study. It's the main reason that home prices and rents are so high.

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College students Sanaa Sodhi, right, and Cheryl Tugade look for apartments in Berkeley, Calif. in March of this year.

Economy

Rents across U.S. rise above $2,000 a month for the first time ever

4:32pm June 09, 2022

by Chris Arnold

A new report shows the cost of renting a home or apartment is up 15% nationally to a new record high.

Kevin Dole works from home next to his wife's bureau and near his drum set in the couple's small two-bedroom condo in Nashville, Tennessee.

Economy

Home prices could fall in some U.S. cities. Here's where and why

10:04am May 12, 2022

by Chris Arnold

During the past two years, home prices nationally have soared more than 30%. Rising mortgage rates make affording a home even harder. That has many people wondering if we're in another housing bubble.

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Mortgage rates on 30-year, fixed-rate loans rose above 5% this week. That's pushing the cost of buying a home higher and making homeownership unaffordable for more people.

Mortgage rates just hit 5%. Here's how much more expensive that makes home ownership

6:12pm April 08, 2022

by Chris Arnold

Higher mortgage rates and home prices have pushed the monthly payment to buy the median-priced home in the U.S. up more than 50% since the start of last year. Many first-time buyers can't afford it.

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A "for sale" sign is posted on a home last month in Philadelphia.

First-time homebuyers are getting squeezed out by investors

7:39pm February 18, 2022

With a historic shortage of homes for sale, investors making cash offers are pushing first-time homebuyers out of the market.

A for rent sign in Palo Alto, California. Across the country rents are on the rise, in part due to a historic shortage of homes either to rent or buy.

Economy

It's not just home prices. Rents rise sharply across the U.S.

10:04am February 14, 2022

by Chris Arnold

Renting a place to live is getting a lot more expensive, according to a survey that tracks rental listings across the biggest 50 U.S. cities.