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The Latest Breaking News from Redfin

As mortgage rates soared, here’s how much homebuyers lost in purchasing power

Homebuyers have lost six figures in buying power over the past year, thanks to soaring mortgage rates, according to new research.

Tribune News Service

With interest rates surging, what does a starter home look like in Southern California?

For decades, the single-family home has been Southern California's ultimate lure — a chance to live a life of sun and sand from the comfort of your very own property.

Los Angeles Times

Analyst Remains Bearish On Real Estate iBuyers: 'Fundamentals Are Going To Turn Worse Before They Get Better'

The National Association of Home Builders/Wells Fargo Housing Market Index fell three points in September to 46, a bearish reflection of current U.S. homebuilder sentiment.

Benzinga

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How much will a house cost by 2030? Predictions and tips to start saving

Just 17 percent of Americans believe it’s a good time to buy a home, according to a recent survey from Fannie Mae. Between higher mortgage rates, still-high home prices and broader inflationary pressure, putting off buying a home might be the only option for some. What happens if you wait,…

Tribune News Service

5 tips to make the search for a new apartment easier

Finding a new place to rent can be challenging, and skyrocketing rents have made it especially hard this year

The Independent UK

Rents are starting to come down, but the trend may not hold

Rents are starting to come down after spiking to record levels this past summer, but experts are uncertain if the slowdown will continue

The Independent UK

Dropping Home Sales Numbers May Mean The End Of Bidding Wars

The real estate market is churning again, and based on the latest home sales numbers from several sources, the end of private home bidding wars may be nearing its end.

Benzinga

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Why rents are soaring pretty much everywhere in the U.S.

A recession wouldn't bring much relief for renters.

Axios

Remote workers pushed up incomes and home prices in these cities

Pandemic migration has reshaped many regions of the country.

Axios

California exodus continues, with LA, San Francisco leading the way: 'Why are we here?'

LOS ANGELES — After living in the Bay Area for nearly seven years, Hari Raghavan and his wife decided to leave for the East Coast late last year.

Los Angeles Times

LOCALIZE IT: Mortgage rates up, applications down across US

EDITORS/NEWS DIRECTORS:

The Independent UK

Here's what Southern California's housing market cooldown means for buyers, sellers

The Southern California housing market is finally slowing down after a two-year pandemic boom fueled in large part by record low borrowing costs.

Los Angeles Times

Housing market chills as mortgage rates, prices scare buyers

Rising mortgage rates have combined with already high home prices to discourage would-be buyers

The Independent UK

5 Real Estate Stocks to Sell Short Due to Higher Interest Rates

The demand for real estate has taken a hit amid rising interest rates and a faster-than-expected rise in mortgage rates. Higher home prices and the lack of listings have also affected the industry. Given this backdrop, fundamentally weak real estate stocks Redfin Corp. (RDFN), WeWork (WE), Alset EHome International (AEI),…

StockNews.com

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Axios

Homebuyers retake the upper hand in the cooling real estate market

This is a sign of how fast the housing market adjusted to the surge in mortgage rates that started in March.

Benzinga

Homebuyers Are Backing Out Of Sales At Record Levels: Report

Homebuyers are backing out of property purchase deals at a level not seen since the beginning of the COVID-19 pandemic, according to data from Redfin (NASDAQ: RDFN).

Benzinga

Housing Beat: Mortgage Rates Fall Again, Home Price Growth Cools, Roe V. Wade Influences Homebuyers

This week in the housing world, mortgage rates declined for the second consecutive week as home price growth slowed, the level of mortgage delinquencies remained low and the Roe v. Wade controversy permeated the homebuying process.

Benzinga

Housing Beat: Mortgage Rates Creep Down, Inventory Expands And Who Wants A Vacation Home Anymore?

The U.S. housing market closed June with a decline in mortgage rates, a bump-up in pending home sales, a growing number of available properties for sale and an evaporating enthusiasm for vacation homes.

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WEKU

Job cuts are rolling in. Here's who is feeling the most pain so far

Tesla, JPMorgan, Netflix, Redfin and Coinbase are among companies that are cutting jobs. While layoffs are contained to the hottest parts of the economy, there's fear they could spread elsewhere.

Tribune News Service

America’s best places to live in 2022

While there has been some movement to the suburbs during the pandemic, major cities remain attractive places to live and work. If you’re reevaluating where you call home or considering relocating this year, here are Bankrate’s picks for the best places to live in 2022.

Los Angeles Times

Home sellers are cutting list prices as more buyers take pause: 'The market is not the same'

Home sellers are increasingly cutting their asking prices as buyers, constrained by higher mortgage rates and overall inflation, have become less willing to jump into the housing market at any cost.

Tribune News Service

Redfin to lay off hundreds as housing market cools

The cooling housing market is catching up with Seattle's real estate tech companies.

The Independent UK

Cooling housing market prompts layoffs at Redfin

Redfin, the Seattle-based real estate brokerage, says it will lay off 8% of its employees as the housing market cools off

Axios

Redfin laying off 8% of its staff

"We could be facing years, not months, of fewer home sales, and Redfin still plans to thrive."

Benzinga

Housing Beat: Mortgage Rates Up Again, Homes With High Fire Risks Sell For More

This week in the housing market, mortgage rates resumed their upward movement, mortgage applications continued their downward movement and industry experts weighed in on the arrival of the next recession.

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