Frustrated coastal home buyers contend with low inventory, high demand
Home buyers in many U.S. coastal areas are advised to prepare to settle, bring cash offers and close quickly.
Home buyers in many U.S. coastal areas are advised to prepare to settle, bring cash offers and close quickly.
According to Redfin, the median home sale price in April was down roughly 4% from last year. That's a decline of nearly $18,000. This follows record-high prices during the pandemic. James Rodriguez, a senior real estate reporter at Insider, joins CBS News to discuss.
Buying a home has traditionally been seen as the smarter financial move. But is that still the case?
New data shows that U.S. home prices fell 0.2% in January, the seventh consecutive month prices have gone down. Jason Lewris, the co-founder and head of Parcl Labs, joins CBS News's Errol Barnett and Lana Zak to discuss where prices are falling fastest and what to expect in the coming months, as the Federal Reserve may continue its interest rate hikes.
Home values in Seattle fell 7.5% last month but rose 8.3% in Buffalo, New York, a new report shows.
Peak homebuying season is near, but it may not be as fruitful for buyers or sellers. Realtor.com executive news editor Clare Trapasso joins "CBS News Mornings" to discuss.
As the spring homebuying season approaches, affordability is at its lowest point in history, one economist said.
A new report from Redfin found that homeowners are seeing a significant decline in their home values, dropping a total of $2.3 trillion between June and December of 2022. Taylor Marr, deputy chief economist at Redfin, joins CBS News to discuss the report.
As it continues efforts to combat inflation, the Federal Reserve on Wednesday increased interest rates by a quarter-point. In a statement, the Fed said that further hikes are likely.
After the height of the pandemic, data shows more people have moved away from big cities and are heading toward Florida, Texas and the Carolinas. Nadia Evangelou, senior economist and director of real estate research with the National Association of Realtors, joins "CBS News Mornings" to discuss which areas are seeing the biggest population booms.
In 45 of the 50 largest cities, buyers pay far more for the privilege to own a home than they do to rent.
Home prices are on a decline as the Federal Reserve continues to raise interest rates to tame inflation. Skylar Olsen, chief economist at Zillow, joined CBS News' Catherine Herridge to discuss how rising interest rates are affecting the housing market and what homeowners and home buyers should do.
Hundreds of thousands of homeowners who bought properties this year owe more than their homes are worth.
Buyers are getting squeezed by higher real estate prices and soaring mortgage rates, which could force more out of the market.
Housing prices have fallen 32% this year, although they remain higher than before the pandemic.
Rising mortgage rates are shrinking the number of people who can afford to get a home loan.
Surge in borrowing costs is pushing some buyers out of the market, while sellers face a quandary.
Economists predict U.S. home prices could fall by as much as 20% in 2023 as mortgage rates rise. CBS News MoneyWatch reporter Khristopher Brooks breaks down what's driving the expected shift.
High home prices along with increasing mortgage rates and low inventory have put many homes out of reach for prospective buyers. Elaine Quijano takes a look.
Interest rate on a typical 30-year mortgage rate has jumped by more than a quarter-point this week to 6.29%.
As a worker shortage keeps home prices in the country high, more and more women are joining the industry to build a new era of construction. Nancy Chen reports.
The Consumer Price Index rose to 8.5% in the month of July, bringing inflation down from its 40-year high. Gas prices are falling, but the cost of food and rent are still increasing. Lori Bettinger, president of BancAlliance and the former director of the U.S. Treasury's Troubled Asset Relief Program, joined CBS News to discuss what this data means for the economy.
But sales of previously occupied homes have slowed sharply amid higher mortgage rates and rising prices.
Home prices in Las Vegas have dropped for the first time in over two years. According to the Las Vegas Review Journal, increasing mortgage rates and decreasing home sales are causing the trend. Eli Segall, a real estate reporter for the Las Vegas Review Journal, joins CBS News' Jamie Yuccas to discuss.
Lana Zak explains how the dual blow of record-high interest rates and home prices has impacted the housing market.
With just two days to spare, President Joe Biden has signed legislation that lifts the nation's debt ceiling.
The Florida governor went on a whirlwind campaign tour through Iowa, New Hampshire and South Carolina this week.
Footage from the accident site showed bodies lined up on tracks and the injured being shifted to hospitals while rescuers desperately looked through the overturned and jumbled metal train compartments.
The Hollywood Police Department has also issued arrest warrants for two other suspected gunmen.
Meta this week announced that it was mandating that all workers return to the office for three days a week starting in September.
Tupelo Fire Department Sergeant Michael Moody confirmed the deaths to CBS News.
Rights groups have condemned the government crackdown, which has included arbitrary arrests and restrictions on social media.
It was the first deadly exchange of fire along the Israel-Egypt border in over a decade.
The father is also a person of interest in the disappearance of the mother, who was last seen in 2019, authorities said.
Meta this week announced that it was mandating that all workers return to the office for three days a week starting in September.
The Florida governor went on a whirlwind campaign tour through Iowa, New Hampshire and South Carolina this week.
The Hollywood Police Department has also issued arrest warrants for two other suspected gunmen.
The father is also a person of interest in the disappearance of the mother, who was last seen in 2019, authorities said.
Tupelo Fire Department Sergeant Michael Moody confirmed the deaths to CBS News.
With just two days to spare, President Joe Biden has signed legislation that lifts the nation's debt ceiling.
A report of U.S. job cuts showed roughly 5% of job losses in May were due to AI technology.
Allstate and others say thousands of natural disasters in recent years have made the state too expensive to cover.
AI has a place in the profession, but is currently limited in its capabilities, a Texas judge said.
The symbolic vote on executives' multi-million dollar pay packages comes amid an ongoing writer's strike.
The Florida governor went on a whirlwind campaign tour through Iowa, New Hampshire and South Carolina this week.
With just two days to spare, President Joe Biden has signed legislation that lifts the nation's debt ceiling.
The recording — from a July 2021 meeting at Trump's golf club in Bedminster, New Jersey — is a crucial piece of evidence that prosecutors obtained in recent months.
The Republican National Committee also set the rules for the first GOP primary debate of the 2024 presidential cycle.
The Biden-Harris campaign plans to make addressing gun violence a key focus of President Biden's reelection effort.
Companies hid evidence of PFAS' link to dead dogs, enlarged livers and birth defects, according to researchers.
Sweden, which has the lowest rate of smoking in the Europe Union, is close to declaring itself "smoke free."
At least 102 were hospitalized in December, nearly double an earlier peak.
The warnings - in English and French - include "poison in every puff," "tobacco smoke harms children" and "cigarettes cause impotence."
The decline in births is "a very small difference" from the year before.
Rights groups have condemned the government crackdown, which has included arbitrary arrests and restrictions on social media.
It was the first deadly exchange of fire along the Israel-Egypt border in over a decade.
Footage from the accident site showed bodies lined up on tracks and the injured being shifted to hospitals while rescuers desperately looked through the overturned and jumbled metal train compartments.
Images broadcast on local stations showed smashed train compartments torn open with blood-stained holes of twisted metal, and scores of passengers lying beside the tracks.
CIA Director William Burns traveled secretly to Beijing last month, becoming the most senior U.S. official to visit China since the U.S. shot down a Chinese surveillance balloon.
Lyricist Cynthia Weil, who with her husband Barry Mann was half of one of the most successful songwriting teams in New York's fabled Brill Building, and who wrote or co-wrote hits for such artists as Neil Diamond, Linda Ronstadt and Lionel Richie, died June 1, 2023, at age 82. In this "Sunday Morning" profile that aired February 8, 2015, Weil and Mann talk with correspondent Rita Braver about their love-hate competition with Carole King (dramatized in the musical "Beautiful"), and about creating such classics as "On Broadway" and "You've Lost That Lovin' Feelin'."
British band "The Heavy" is known for their unique blend of blues, gospel and soul music. Their work has been featured in countless TV shows, movies and video games, and now they're out with their sixth studio album. Here is The Heavy with "I Feel the Love."
British band "The Heavy" is known for their unique blend of blues, gospel and soul music. Their work has been featured in countless TV shows, movies and video games, and now they're out with their sixth studio album. Here is The Heavy with "Hurricane Coming."
British band "The Heavy" is known for their unique blend of blues, gospel and soul music. Their work has been featured in countless TV shows, movies and video games, and now they're out with their sixth studio album. Here is The Heavy with "Feels Like Rain."
The star of the improv show and longtime partner of DC Young Fly reportedly died in Miami on Wednesday.
Artificial intelligence will likely remake the workplace. A recent analysis from Goldman Sachs looked at the global impact, and found that AI could replace 300 million full-time jobs. Futurist Martin Ford joined CBS News to discuss the jobs he believes AI likely won't take, and what you can do if you're concerned your job may be replaced.
It's important to practice good "cyber hygiene" to prevent hackers, and even employees, from accessing sensitive information.
Financial watchdog urges consumers who keep funds with a digital app to transfer the money to an insured bank account.
In a new documentary, CBS Reports explores the unleashing of artificial intelligence, a rapidly evolving technology. Entrepreneur João Santos, who created AIsthetic, an apparel company using CHatGPT as the CEO, joins CBS News.
Owner of Facebook and Instagram could bar users in the state from sharing news over bill requiring tech companies to pay news publishers.
In the last century, only two wolverines were spotted in California.
Arizona is limiting new construction around Phoenix as the state's water supply continues to dwindle. State officials say there isn't enough groundwater for housing construction that's already been approved. CBS News senior national and environmental correspondent Ben Tracy has more.
A litter of six red wolf pups, a highly endangered species of which there are only about two dozen in the wild, was born at the Great Plains Zoo in South Dakota on Thursday.
The Atlantic hurricane season has officially begun and forecasters are already watching some activity in the Gulf. CBS News senior weather and climate producer David Parkinson joins with a preview of the season, and national correspondent Manuel Bojorquez investigates Florida's flood insurance crisis.
Officials say it "looks weird," and could have been an accident - or a protest over new environmental restrictions on diesel trucks hauling heavy loads.
See the details of the bizarre case.
The Hollywood Police Department has also issued arrest warrants for two other suspected gunmen.
The shooting happened in the same county where a sheriff was shot to death in 2013.
A man killed at least three people during a violent rampage in the Northern California cities of Milpitas and San Jose, police said.
Seven inmates escaped, but most were recaptured within hours. The remaining escapee should be considered "armed and dangerous," police said.
In a first of its kind event, the European Space Agency on Friday livestreamed images of Mars in what it called an opportunity "to get as close as it's currently possible" to the Red Planet.
Around the world, people can catch a sweet treat in the night sky this weekend.
Up until Friday, all images seen of the planet were technically of its past.
A new launch target was not announced, but Boeing officials said a flight this year is still feasible. In theory.
Scientists first made a brightness map of the exoplanet, then a temperature map of the atmosphere.
See the details of the bizarre case.
Live performances are in full swing this summer. Scroll through our concert gallery, featuring pictures by CBS News photojournalist Jake Barlow and photographers Ed Spinelli and Kirstine Walton.
A look back at the esteemed personalities who've left us this year, who'd touched us with their innovation, creativity and humanity.
Despite losing three quarters of the blood in her body, Donna Ongsiako was able to help police find the person who almost took her life.
Vero Beach Police investigators focused on cellphone tower pings and surveillance footage cameras to catch a man who murdered his former girlfriend.
The artificial intelligence revolution has arrived. AI tools such as ChatGPT offer the power to transform fields like business, art, medical research and more. But this technology also brings ethical uncertainty and peril. CBS Reports explores the unleashing of this still rapidly evolving creation and some of the possible dangers.
Two people were killed when a small plane crashed and caught fire near an airport in Tupelo, Mississippi, on Saturday.
Some U.S. company leaders are calling for their remote workers to return to the office. Meta this week announced that it was mandating that all workers return to the office for three days a week starting in September. Carter Evans has more.
Peter Henrikson, a carpenter from Minnesota, is using his woodworking skills to help rebuild Paris' famous Cathedral of Notre Dame four years after a fire tore through the roof of the historic structure.
June is Pride month, a celebration of LGBTQ life. But after years of hard-won civil rights gains for the LGBTQ+ community, there is a backlash that includes violence and tests of corporate commitment. Elise Preston has more.