Pending Home Sales Plunge to All-Time Low in Troubling Sign for Fall Housing Market
Pending home sales slipped in September to the lowest level on record, as mortgage rates surging past 7% eroded prospective buyers' purchasing power. Contract signings fell 7.3% compared to August, and plunged 11.3% year over year, according to the National Association of Realtors® Pending Home Sale
Reimagined Cobble Hill Townhouse Closes Under Asking for $12.25 Million
A reimagined five-bedroom townhouse in Brooklyn, NY, has sold for under asking in the high-profile Eckstrom luxury development in an off-market transaction. The home at 487 Henry Street closed for $12.25 million. It was originally listed at $14.25 million. Located in the tree-lined Cobble Hill neigh
Home Construction Drops as Builders Confront Higher Mortgage Rates
Construction of new single-family homes faced a reversal in September following a brief August rebound, the U.S. Census Bureau reported Tuesday. Single-family housing starts fell last month to a seasonally adjusted annual rate of 859,000, down 4.6% from August's 900,000, which has been revised down
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