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Tag: Home sales

Rent prices soar as home sales decline
Business

Rent prices soar as home sales decline

Rent prices soar as home sales decline - CBS News Watch CBS News Bidding wars have sent rent prices soaring as home sales decline. Carter Evans takes a look at how it's playing out in Los Angeles. Be the first to know Get browser notifications for breaking news, live events, and exclusive reporting. Not Now Turn On Source link
Business Highlights: Falling home sales, Russian coffee
Business

Business Highlights: Falling home sales, Russian coffee

___US home sales fell in July; some buyers see silver liningLOS ANGELES (AP) — The housing market’s comedown from its high-flying days early this year is deepening, with home sales in July falling for the sixth straight month. Sharply higher mortgage rates, surging inflation and prices that remain near all-time highs are making homes less affordable. The National Association of Realtors said Thursday that sales fell 20.2% from July last year, reaching the slowest pace since May 2020, near the start of the pandemic. But the slowdown has begun to tip the homebuying equation, if ever so slightly, in favor of house hunters who can afford to stay in the market and away from sellers.___Fewer Americans file for jobless benefits last weekWASHINGTON (AP) — Slightly fewer Americans filed for unem...