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US home sales fell again in April as prices hit new high | CNN Business
CNN — Home sales fell for the third straight month in April as rising mortgage rates and affordability issues pushed many potential buyers out of the market. Still, prices continued to climb, reaching an all-time high. The median home price in April was a record $391,200, up 14.8% from a year ago, according to a […]
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Sales of existing homes fell in April to the lowest level since the start of the pandemic
A pending sale sign is displayed in front of a home for sale on March 18, 2022 in San Anselmo, California. Justin Sullivan | Getty Images Sales of previously owned homes in April fell at the lowest pace since the start of the Covid pandemic, according to the National Association of Retailers. Existing home sales […]
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Weekly mortgage demand from homebuyers drops 12% as rising interest rates wreak havoc
A sign of a house for sale is pictured in Alhambra, California on May 4, 2022. Frederic J. Brown | AFP | Getty Images Mortgage rates actually fell slightly last week, but the damage has already been done to housing affordability. Demand for refinance and purchase loans fell, leading to an 11% drop in total […]
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Every home in America now has a wildfire threat score, and some regions are seeing a 200% jump in risk
Laguna Niguel, Calif. May 11, 2022 – Firefighters battle a brush fire at Coronado Pointe in Laguna Niguel on Wednesday. Wally Skalij | Los Angeles Times | Getty Images The raging wildfires in New Mexico and California may offer an ominous prospect for a growing part of America, and not just in the West. The […]
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Demand for adjustable-rate mortgages hits 14-year high as buyers try to afford expensive spring market
A newly sold home is shown in Houston, Texas. Brandon Bell | Getty Images It could be more listings on the market, or maybe just the fear that interest rates will rise even more, but home buyers are showing greater demand for mortgages. However, they are turning even more to adjustable rate mortgages (ARMs), which […]
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Housing supply is finally improving as high prices and rising rates weigh on sales
A house is listed for sale in Chicago, Illinois. Scott Olson | Getty Images One of the leanest housing markets in history could take on some fat. The supply of homes for sale could increase in the coming weeks, according to new data from Realtor.com. Inventories in April were 12% lower than the same month […]