A for sale sign is displayed outside of a home for sale on August 16, 2024 in Los Angeles, California. Patrick T. Fallon | AFP | Getty Images Mortgage rates didn’t move last week, but demand for new home loans continued to weaken. Both homebuyers and current homeowners are hampered by today’s higher interest rates.…
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Share CNBC Digital Original Video Historically destructive wildfires ripped through Southern California this month, leaving more than 16,000 structures destroyed and insurers facing $40 billion in payouts. The disaster compounds an already dire situation for California’s insurance market after multiple home insurers limited underwriting or pulled out of the state all together. Now, California joins…
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Share Squawk on the Street Jason Oppenheim, ‘Selling Sunset’ star and real estate agent, joins ‘Squawk on the Street’ to discuss landlords price gauging when renting to California residents who have been displaced, what to expect from the Los Angeles housing market going forward, and much more. 03:30 Wed, Jan 15 202511:50 AM EST Source:…
A completed planned development is seen in Ashburn, Virginia, on Aug. 14, 2024. Andrew Caballero-Reynolds | AFP | Getty Images Mortgage demand started this year stronger than it did last year, even though interest rates are higher. Total mortgage application volume last week was 7% higher than the same week one year ago, according to…
First-time homebuyers may struggle to find adequate starter homes when the 2025 buying season begins this spring. The homes that once gave Americans a stepping stone into real estate are disappearing, according to experts. While the exact definition of a starter home varies, they’re typically under 1,400 square feet. In 2023, just 9% of the…
Share Markets and Politics Digital Original Video Starter homes are typically modest in price and under 1,400 square feet. These units accounted for 40% of new residential construction in 1982, and just 9% in 2023. Economists say starter homes are disappearing as home builders contend with rising costs for land, labor and materials while navigating…
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