Housing
How China’s Shein became more valuable than H&M and Zara combined
Shein is a Chinese fashion e-commerce company that’s outperforming many of its competitors. Its reported valuation in April 2022 was $100 billion – more than H&M and Zara combined. Chinese e-commerce company Shein took the top spot as the most downloaded app in the United States in May, according to a report from intelligence firm Marketplace […]
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Mortgage rates rise sharply after three weeks of easing
A “For Sale” sign outside a house in Crockett, California, on Tuesday, May 31, 2022. David Paul Morris | Bloomberg | Getty Images Mortgage rates rose sharply this week, after pulling back over the last three weeks. The 30-year fixed hit 5.36% Monday and then moved higher again Tuesday to 5.47%, according to Mortgage News […]
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Home prices surged over 20% in March as interest rates also rose, according to S&P Case-Shiller
A sold sign sits outside a home. Adam Jeffery | CNBC Rising mortgage rates did not slow down rising home prices in March. Nationally, home prices were 20.6% higher than they were in March 2021, according to the S&P CoreLogic Case-Shiller Home Price Index. That is higher than the 20% gain in February. The index […]
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There’s a ‘massive gap’ between housing demand and supply in Singapore, PropertyGuru CEO says
Supply constraints are driving up property prices and rents in Singapore, the chief executive officer of a real estate company said Friday. “You can see a massive gap opening up between demand and supply,” said Hari Krishnan of PropertyGuru. Singapore introduced measures to cool the property market in December 2021, but analysts told CNBC in […]
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Home listings suddenly jump as sellers worry they may miss out on the red-hot housing market
A For Sale sign is displayed in front of a house in Washington, DC. Stefani Reynolds | Afp | Getty Images Sharply higher mortgage rates have caused a sudden pullback in home sales, and now sellers are rushing to get in before the red-hot market cools off dramatically. The supply of homes for sale jumped […]
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Sales of newly built homes tumbled over 16% in April while prices soared
Sales of newly built homes dropped 16.6% in April from March, far more than expected, and were down 26.9% from April 2021, according to the U.S. Census. The annualized rate came in at 591,000 units, seasonally adjusted. Analysts had been expecting 750,000. March’s read was also revised lower. That is the slowest sales pace since […]
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Here’s why major cities may still be worth their high cost of living
Many renters believe that a cost-of-living crisis is brewing in America’s major cities. New York City is showing up as a hotspot of rent inflation. The average rent for 1-bedroom apartments in Manhattan rose to $3,995 a month in May 2022 — a 41% increase from one year ago, according to Zumper. Sudden, double-digit rent […]
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China cuts borrowing rate again, seeking to revive housing sector
High-rise buildings in downtown Shanghai, China, on March 12, 2018. China cut its benchmark reference rate for mortgages by an unexpectedly wide margin on Friday, its second cut this year as Beijing seeks to revive the ailing housing sector to prop up the economy. Johannes Eisele | Afp | Getty Images China cut its benchmark […]
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Reality TV shows based on real estate are ‘horrible’ for the industry, says brokerage CEO
A customer looks at listings on display outside a Brown Harris Stevens offices in New York. Brendan McDermid | Reuters The rise of reality TV shows featuring real estate has been “horrible” for the industry and the image of its brokers, a top brokerage CEO said Thursday. “This is not who we are,” said Bess […]
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How relocating Americans created new inflation hot spots
Americans moved around a lot over the past two years, and those destinations also now happen to have the highest inflation rates in the U.S. “We saw right away that inflation was highest in Phoenix and lowest in San Francisco,” Redfin deputy chief economist Taylor Marr told CNBC. The relationship between migration and inflation has […]
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