housing market

Would-be home buyers are battling high prices and high interest rates, but some are finding a way to make it work.

Economy

Tough housing market is luring buyers without kids and higher incomes

7:27am November 14, 2023

by Scott Horsley

A report from the National Association of Realtors shows the average home buyer this past year had a six-figure income. Others face challenges in a period of high prices and costly home loans.

The median home price has risen to $413,800, the second highest price ever, according to data released Thursday by the National Association of Realtors.

Economy

Inflation may be cooling, but the housing market is still too hot for many buyers

11:49am July 20, 2023

by Erin Kenney

The median home price has risen to $413,800 – the second-highest price ever — thanks to a shortage of homes on the market and high mortgage rates. Experts say renting may be a better option.

Children ride scooters past a house for sale in Los Angeles. Home sales have slowed as mortgage rates have climbed.

2022 marked the end of cheap mortgages and now the housing market has turned icy cold

5:13am December 26, 2022

by Arezou Rezvani

The buying frenzy of a year ago is long gone. Home buyers have pulled away, sellers are holding back, and the whole housing market is locked in a deep freeze.

Mortgage rates keep rising, making home ownership unaffordable for millions of Americans. Since the start of the year higher rates have added about $1,000 to the monthly payment to buy a typical house.

Buying a home gets even harder as mortgage rates top 7%

11:22am October 27, 2022

by Chris Arnold

It's harder to afford homeownership than it's been in decades as a steep run-up in both prices during the pandemic and more recently interest rates hit buyers from both sides.

People shop in a Manhattan store on Oct. 26, 2022 in New York City. Inflation, in the form of higher prices for gas, food and other consumer goods is weighing on U.S. economic growth.

New GDP report shows an economic turnaround, but don't be fooled

8:39am October 27, 2022

by Scott Horsley

Thursday's GDP report shows the U.S. economy grew at an annual rate of 2.6% in July, August and September, after shrinking in the first half of the year.

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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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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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A three-bedroom and two-bath home for sale in Winston-Salem's East Winston neighborhood on South Graham Avenue.

Economy

Understanding the housing market: a look at supply and demand

11:24am August 23, 2022

by David Ford

During the past two years, America’s red-hot housing market left millions of people scrambling to find an affordable home to purchase or rent.

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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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The U.S. needs 4 million more homes in order to keep up with demand. But high prices and mortgage rates are making builders question whether they want to build homes that might not sell.

Economy

The U.S. needs more homes, but builders may be slowing construction

2:58pm June 15, 2022

by Jacqueline GaNun

The U.S. has a home shortage, but builders may be slowing instead of increasing construction because of worries that the homes won't be sold.