real estate

Home sales could plunge in 2023. These cities could see the biggest dips.

Home sellers should brace themselves for a tough year ahead, with one real estate group forecasting that property sales could tumble in 2023 as more buyers are sidelined by rising mortgage rates and out-of-reach home prices. The number of homes sold will likely plunge 14.1% to 4.53 million homes, representing the lowest number of property …

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Home prices are expected to keep rising next year: Here’s where

Americans looking to buy a house next year can expect less competition, more homes to choose from, and the highest average mortgage rates in nearly two decades. Here’s what they can’t expect: A widespread fall in prices that would bring relief to priced-out homebuyers. That’s the major takeaway from Realtor.com’s 2023 Housing Forecast released Wednesday. …

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Mortgage rates fall for the third straight week, but demand still drops further

A For Sale sign appears in front of a house on Oak Street in Patchogue, New York, on May 17, 2022. Steve Pfost | Newsday | GettyImages Mortgage rates soared over 7% just a month ago, but since then they have fallen more than half a percentage point. Still, mortgage loan application volume decreased by …

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Airbnb launches first hosting platform for apartment tenants

Airbnb is partnering with several major landlords and management companies to list designated apartment buildings where renters are allowed to offer short-term sublets on the site. The company said Wednesday that a new page on its website will list so-called Airbnb-friendly buildings, which will give tenants the option to host their apartments just as homeowners …

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Dubai, Miami top list of best luxury real estate markets for 2023

Residential villas on the waterside of the Palm Jumeirah in Dubai on Feb. 24, 2022. Russians were always among the top 10 nationalities investing in Dubai property, according to Tahir Majithia, managing partner at Dubai-based Prime Capital real estate. Christopher Pike/Bloomberg via Getty Images Wealthy investors betting on luxury real estate would do better by …

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Bank of America CEO predicts two years of pain ahead in the housing market

New York CNN Business — The CEO of one of the nation’s largest banks is preparing for an economic downturn in 2023. But he’s also hopeful that the likely recession will be brief and “mild.” Bank of America (BAC) CEO Brian Moynihan said in an exclusive interview with Poppy Harlow on “CNN This Morning” Tuesday …

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“Collapse” in home prices is coming, experts say

Data: FactSet; Chart: Axios Visuals The residential real estate market has screeched to a halt, and some economists believe home prices are about to drop significantly. The big picture: Existing home sales have fallen for nine straight months. The supply of single-family homes is growing. And with mortgage rates near 7%, experts say a large-scale …

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UK property demand down 44% since market-rocking mini budget: Zoopla

Estate agents “Sold” and “For Sale” signs outside residential properties in the Maida Vale district of London, UK, on ​​Thursday, June 30, 2022. Bloomberg | Bloomberg | GettyImages Demand for UK residential properties has nearly halved following September’s government budget that spooked financial markets and toppled the prime minister, research Monday showed. The fiscal package, …

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