The Federal Reserve’s policy shift depressed homebuyer and homeseller activity in January, according to Redfin. Monthly new and active listing growth dropped to the lowest levels since last summer.
Category: Markets & Economy
Homeowners are staying put twice as long as they did 2 decades ago
The typical homeowner in 2024 has spent 11.9 years in their home, up from 6.5 years in 2005, according to Redfin data.
‘The vibe is pretty good’ as first earnings season of 2024 kicks off
Ahead of Q4 earnings this week and next, analysts are narrowing in on the future — and pleased by lower rates and a healthier economy as it rebounds from the final months of 2023.
70 public housing employees charged with bribery in New York
The charges amount to the largest number of federal bribery charges ever filed on a single day, according to the Department of Justice.
Once China’s biggest developer, Evergrande ordered to liquidate
The developer was once considered too big to fail, but it over-borrowed and was hurt by China’s weakening property market.
Are US home-sale revenues finally bottoming out? Intel examines
The steepest part of the home-transaction downturn appears to be over. Is this where business turns around? Intel dives into the data.
Tale of 2 housing markets will linger into 2024, Zonda economist warns
With listings still in short supply, homebuyers are “dealing with an affordability shock” and new homes will play an outsize role in housing markets, Zonda Chief Economist Ali Wolf said at ICNY.
LA developer hit with lawsuit for homeless housing Ponzi plot
California attorney general Rob Bonta claimed in a civil lawsuit filed in LA County Superior Court that Shangri-La Industries illegally put developments in the state’s Project Homekey homeless housing program under threat by borrowing against them.
Falling mortgage rates should boost home sales: Fannie Mae
Fannie Mae economists no longer expect a recession and are considerably more optimistic that mortgage rates have additional room to come down below 6 percent.
Christie’s International Real Estate expands into Curaçao with affiliate
The luxury brand’s Aruba affiliate, Bold Properties, has expanded into the Caribbean island of Curaçao as demand remains strong among buyers and investors in the wake of the pandemic.