Latest Real estate services News

US home sales fell in October for ninth straight month

Nov. 18, 2022 12:13 PM EST

Sales of previously occupied U.S. homes fell in October for the ninth consecutive month to the slowest pre-pandemic sales pace in more than 10 years as homebuyers grappled with sharply higher mortgage rates, rising home prices and fewer properties on the market. Existing home sales...

Average long-term US mortgage rates tumble to 6.61%

Nov. 17, 2022 12:28 PM EST

WASHINGTON (AP) — The average long-term U.S. mortgage rate tumbled by nearly a half-point this week, but will likely remain a significant barrier for potential homebuyers as Federal Reserve officials have all but promised more rate hikes in the coming months. Mortgage buyer Freddie...

Fewer Americans file for jobless benefits last week

Nov. 17, 2022 09:09 AM EST

WASHINGTON (AP) — The U.S. job market remains healthy as fewer Americans applied for unemployment benefits last week, despite the Federal Reserve's rapid interest rate hikes this year intended to bring down inflation and tighten the labor market. Applications for jobless claims...

Average long-term US mortgage rate back above 7% this week

Nov. 10, 2022 10:01 AM EST

WASHINGTON (AP) — The average long-term U.S. mortgage rate returned to the 20-year highs of two weeks ago when rates breached 7% for the first time since 2002. Mortgage buyer Freddie Mac reported Thursday that the average on the key 30-year rate rose to 7.08% from 6.95% last week....

Slightly more Americans apply for jobless benefits last week

Nov. 10, 2022 08:48 AM EST

WASHINGTON (AP) — The number of Americans applying for jobless benefits rose slightly last week, but the labor market remains healthy despite job cuts that have begun to spread across industries most affected by soaring interest rates, such as housing and technology. ...

Redfin to cut another 13% of workforce, shutter RedfinNow

Nov. 09, 2022 11:27 AM EST

WASHINGTON (AP) — Online real estate broker Redfin is cutting 862 employees and shutting down its instant-cash-offer subsidiary RedfinNow, another casualty of two-decade high interest rates stoked by the Federal Reserve's fight against inflation. The job cuts amount to 13% of...

California tenants rise up, demand rent caps from city halls

Nov. 05, 2022 10:16 AM EDT

ANTIOCH, Calif. (AP) — Kim Carlson's apartment has flooded with human feces multiple times, the plumbing never fixed in the low-income housing complex she calls home in the San Francisco Bay Area suburb of Antioch. Her property manager is verbally abusive and calls her 9-year-old...

As housing prices surge, rent control is back on the ballot

Nov. 01, 2022 17:03 PM EDT

SAN FRANCISCO (AP) — Liberty McCoy was out Saturday urging voters to pass a Nov. 8 ballot measure to limit rent increases in Pasadena because she’s afraid she’ll be priced out of the city where she grew up and where her aging parents live. The librarian and her husband, a...

California Realtors apologize for role in racist housing

Oct. 21, 2022 19:07 PM EDT

SACRAMENTO, Calif. (AP) — The California Association of Realtors is apologizing for its role in pushing policies that drove racial segregation in the state, decades after the group put its money behind a proposition that overturned the state’s first fair housing law. During a...

DC real estate firms to pay $10M for housing discrimination

Oct. 21, 2022 13:39 PM EDT

WASHINGTON (AP) — A trio of real estate companies will pay $10 million for illegally discriminating against renters using government housing vouchers in the nation's capital, in what Washington Attorney General Karl Racine said was the largest civil penalty in U.S. history for a housing...