Rise in all-cash transactions turbo charge price gains for luxury homes
Some 46.8% of luxury homes were bought entirely with cash in the three months ended February 29, the highest share in a decade, according to Redfin.
Some 46.8% of luxury homes were bought entirely with cash in the three months ended February 29, the highest share in a decade, according to Redfin.
The median mortgage payment jumped to a record $2,843 in April, up nearly 13% from a year ago, a new analysis finds.
A Los Gatos man who starred in a real estate reality show was sentenced to jail and ordered to pay back nearly $10 million to his victims after admitting to real estate fraud, prosecutors said Tuesday.
Truong My Lan, a 67-year-old Vietnamese property magnate, has received a death sentence after being convicted of embezzlement, bribery and banking violations in a scheme that defrauded the Saigon Commercial Bank of more than $12 billion over a 10-year period.
The house, which was built in 2017, has a five-car garage, and three-and-a-half baths.
The annual income needed to afford even a basic home in the U.S. has risen sharply since the pandemic, a new report shows.
The National Association of Realtors' agreement to resolve all claims against the group by home sellers related to broker commission may lead to homeowners paying a lot less to sell their homes. Tomasz Piskorski, a professor at Columbia Business School, joins CBS News with more.
The National Association of Realtors, which represents more than a million real estate agents nationwide, settled a number of lawsuits Friday. One of the conditions of the agreement is that rules on commissions for agents brokering a home sale will be eliminated, meaning that the standard 5% to 6% commission rate could be gone as soon as this summer.
The landmark deal, if approved by a court, could cause real estate fees to drop by as much as 30%, experts say.
The White House is proposing a "mortgage relief credit" that would give homebuyers an annual tax credit of $5,000 for two years.
China is holding its biggest political meeting of the year. Anthony Saich, Daewoo Professor of International Affairs at Harvard Kennedy School, joins CBS News to discuss what measures Chinese leaders are taking to address an economic slowdown and what this means for the rest of the world.
A recent study finds Americans are choosing to live further from their offices, embracing remote work and more retired living over classic office work models. Emma Goldberg, a business reporter for the New York Times, joins CBS News with a look at the data.
It's worth politely asking your agent to lower their commission fee. More than half of those who do so are successful.
New data from the Federal Housing Finance Agency shows prices for homes rose 6.5% over the last year. CBS News contributor Javier E. David has more on whether there will be any relief coming for prospective home buyers. He also discussed Macy's plans to close about 150 underperforming stores over the next three years.
As more employers embrace the work-from-home model, commercial real estate is reeling from declining demand and staggering occupancy rates. Benjamin Keys, a real estate pressor at The Wharton School of the University of Pennsylvania, joins CBS News with a look at the changing trends.
While rents have been easing for the past few months nationwide, prices are still up significantly compared to before the pandemic, largely due to inflation. Providence, Rhode Island, saw one of the highest rent increases in the U.S. last year, and according to researchers, you need a salary of close to $83,000 to afford a two-bedroom apartment there. Nancy Chen reports.
Homes in the most expensive ZIP codes cost almost 200 times more than the cheapest on a square-foot basis, a new analysis finds.
Researchers have found millennials are having a hard time paying for city housing markets. Dr. Riordan Frost, senior research analyst at the Harvard Joint Center for Housing Studies, joined CBS News to discuss why the generation is getting priced out.
New York City is aiding some office building owners wanting to convert their property into residential spaces to meet the changes sparked by the COVID-19 pandemic, which led to more remote work opportunities and less demand for office space. Kate Marino, a business editor at Axios, joins CBS News with her reporting on the real estate transition.
Mortgage rates are still much higher than two years ago, but pent-up demand is driving home prices higher, one economist says.
Hybrid work has put office building owners in a bind and could pose a risk to banks. Landlords are now confronting the fact that some of their office buildings have become obsolete, if not worthless.
Transforming unused office buildings into urban housing could solve two problems rippling through the real estate world — if only it were so easy.
A real estate sector rocked to its foundations by empty offices is struggling to adapt to hybrid work. The trouble with office buildings could ripple through the economy, hitting banks.
First, how empty offices spell trouble for landlords. And, a look at how a neurosurgeon is targeting Alzheimer's and addiction.
Hybrid work has put office building owners in a bind and could pose a risk to banks. Landlords are now confronting the fact that some of their office buildings have become obsolete, if not worthless.
College protesters are demanding divestment as a way to deliver change, although its effectiveness isn't clear cut.
Prosecutors are continuing to call witnesses in former President Donald Trump's criminal trial in New York, where jurors heard from a former Trump Organization executive.
Without a major change, Social Security may be forced to cut benefits in 2035, a year later than previously forecast.
A U.S. soldier has been detained in Russia, officials confirmed.
Israeli Prime Minister Benjamin Netanyahu's office says the proposal is "far from meeting Israel's core demands."
There is no question that Nehls served overseas and engaged in combat, but military documents show he received one Bronze Star instead of two.
A 19-year-old U.S. soldier from Colorado has been accounted for more than 70 years after being declared missing in action in the Korean War.
A man was also found shot to death inside the home where the man who pulled the gun during the service.
Miss USA Noelia Voigt said she's stepping down and relinquishing her crown.
Prosecutors are continuing to call witnesses in former President Donald Trump's criminal trial in New York, where jurors heard from a former Trump Organization executive.
Recall includes yogurt pretzels and other confections sold by retailers such as Dollar General, HyVee, Target and Walmart.
Without a major change, Social Security may be forced to cut benefits in 2035, a year later than previously forecast.
College protesters are demanding divestment as a way to deliver change, although its effectiveness isn't clear cut.
Stars are arriving on the red carpet at the 2024 Met Gala. Watch our coverage and see all the outfits.
Recall includes yogurt pretzels and other confections sold by retailers such as Dollar General, HyVee, Target and Walmart.
Without a major change, Social Security may be forced to cut benefits in 2035, a year later than previously forecast.
College protesters are demanding divestment as a way to deliver change, although its effectiveness isn't clear cut.
A new membership from luxury fitness chain Equinox includes a battery of tests normally reserved for professional athletes.
Condé Nast employees were set to walk off the job only hours before the Met Gala, chaired by company editorial director Anna Wintour.
Prosecutors are continuing to call witnesses in former President Donald Trump's criminal trial in New York, where jurors heard from a former Trump Organization executive.
Without a major change, Social Security may be forced to cut benefits in 2035, a year later than previously forecast.
A U.S. soldier has been detained in Russia, officials confirmed.
Israeli Prime Minister Benjamin Netanyahu's office says the proposal is "far from meeting Israel's core demands."
South Dakota Gov. Kristi Noem would not answer a question about whether the meeting with the North Korean leader actually occurred.
Recall includes yogurt pretzels and other confections sold by retailers such as Dollar General, HyVee, Target and Walmart.
A survey from the American Academy of Dermatology finds more than one-third of adults reported getting a sunburn last year — the highest number since 2020.
Hormel Foods says potentially contaminated products were shipped to Publix and Dollar Tree distribution warehouses.
Steward Health Care, the struggling hospital group that owns hospitals in Massachusetts, Texas, Florida and other states, announced Monday that it is filing for bankruptcy.
The Texas dairy worker infected by H5N1 "did not disclose the name of their workplace," frustrating investigators.
A U.S. soldier has been detained in Russia, officials confirmed.
Israeli Prime Minister Benjamin Netanyahu's office says the proposal is "far from meeting Israel's core demands."
Zakia Wardak, Afghanistan's top diplomat in India, announced her resignation after reportedly being stopped at an airport with the gold cache.
Claiming a "new round of escalation" from NATO amid the war in Ukraine, Russia plans drills simulating the use of battlefield nuclear weapons.
Historic flooding has left the wealthy Brazilian city of Porto Alegre underwater, with more than 80 people dead and many awaiting rescue.
Miss USA Noelia Voigt said she's stepping down and relinquishing her crown.
Kendrick Lamar and Drake have each released several ruthless diss tracks against each other, with Kendrick alleging Drake has a secret daughter and making other disturbing accusations.
From "Magnum, P.I." to "Blue Bloods," Tom Selleck has become a staple of American television and film. In his latest memoir, "You Never Know," Selleck shares insights from his journey in Hollywood and beyond.
Cedric the Entertainer gives an exclusive first look at tonight's season six finale of "The Neighborhood."
It's widely known the Met Gala itself includes a dinner and a performance. But aside from bathroom selfies and elevator clips, the gala itself isn't recorded.
Sidechat, an app launched in 2022 where students can post anonymously about their colleges, is becoming a tool for those choosing to protest at U.S. campuses. Amanda Silberling, a senior culture writer for TechCrunch, joins CBS News with more details on the app.
Microsoft users can now use biometric passkeys, like a thumbprint or Face ID, to sign into Microsoft 365, Copilot. Jon Fingas, senior editor at Techopedia, has more.
From labor shortages to environmental impacts, farmers are looking to AI to help revolutionize the agriculture industry. One California startup, Farm-ng, is tapping into the power of AI and robotics to perform a wide range of tasks, including seeding, weeding and harvesting.
Sidechat, an anonymous messaging app, has been used by students to share opinions and updates, but university administrators say it has also fueled hateful rhetoric.
Georgia is home to the nation's newest nuclear reactor. It's bringing clean energy to the state, but the project has run over budget and past its original completion date. Drew Kann, climate and environment reporter for The Atlanta Journal-Constitution, joins CBS News to explore the effort.
Boeing's Starliner is making its maiden voyage to the International Space Station, with its first piloted launch set for Monday night. The launch comes after years of delays. Mark Strassmann reports.
Reported sightings of giant, toxic, invasive hammerhead flatworms are on the rise in parts of southeastern Canada. Experts say the worms can grow up to 3 feet long and pose a risk to children, pets and other small animals. Peter Ducey, PH.D. and distinguished teaching professor at SUNY Cortland, joins CBS News to discuss the worm.
When NASA added a tiny four-pound helicopter as a stowaway to its Mars 2020 lander, it expected the helicopter to fly five very brief flights in the thin Martian atmosphere. Yet, Ingenuity would far surpass all expectations.
When NASA added a drone named Ingenuity to its Mars 2020 rover Perseverance, it expected the tiny four-pound helicopter to fly a total of five very brief missions in the thin Martian atmosphere. But Ingenuity far surpassed all expectations, flying dozens of flights before suffering damage to its rotors in January. Correspondent David Pogue reports on how the tiny drone, created from off-the-shelf parts, continued to provide valuable data and images from the Red Planet three years into its mission.
There's a newly-determined "major factor" in declining bumblebee populations – and it's attacking their nests.
A man has confessed to killing a woman at her apartment near Oklahoma City in 2016. He is being held on a first-degree murder charge.
Police identified the victims as Samantha Cisneros and Taryn Allen and said a 5-year-old girl was injured with a gunshot wound.
A church service in North Braddock, Pennsylvania, was upended Sunday when a man pulled a gun on the pastor in the middle of his sermon.
Officials confirmed the bodies found in a well last week in Mexico belonged to three missing surfers and that they each had bullet wounds.
Brian Fanion says he and his wife Amy Fanion had been arguing about his retirement plans when she picked up his service weapon and shot herself. Investigators did not believe his story.
Two astronauts will put the Boeing Starliner through its paces to verify it's ready to begin launching operational crew ferry flights to the space station.
After years of delays, Boeing is set to launch its Starliner spacecraft with a crew for the first time Monday. The test flight will carry two astronauts to the International Space Station.
The Eta Aquariids meteor shower will peak overnight on Sunday into Monday, according to NASA.
Two veteran astronauts will put the Starliner through its paces in the ship's first piloted flight to orbit.
Boeing is expected to launch its Starliner space capsule that will take two astronauts to the International Space Station. CBS News consultant Bill Harwood breaks down Boeing's mission.
A look back at the esteemed personalities who've left us this year, who'd touched us with their innovation, creativity and humanity.
The Francis Scott Key Bridge in Baltimore collapsed early Tuesday, March 26 after a column was struck by a container ship that reportedly lost power, sending vehicles and people into the Patapsco River.
When Tiffiney Crawford was found dead inside her van, authorities believed she might have taken her own life. But could she shoot herself twice in the head with her non-dominant hand?
We look back at the life and career of the longtime host of "Sunday Morning," and "one of the most enduring and most endearing" people in broadcasting.
Cayley Mandadi's mother and stepfather go to extreme lengths to prove her death was no accident.
Hamas said Monday it had accepted a proposed cease-fire deal with Israel presented by Egypt and Qatar. Earlier in the day, President Biden spoke to Israeli Prime Minister Benjamin Netanyahu about efforts to secure a hostage deal and had lunch with King Abdullah of Jordan. CBS News senior White House and political correspondent Ed O'Keefe reports.
With the presumptive nominees for each party decided in the 2024 presidential election, Republican attention has now turned to who Donald Trump will choose as his running mate. CBS News chief Washington correspondent Major Garrett has the latest.
Thousands of displaced Palestinians are now fleeing eastern Rafah after Israel ordered people to evacuate ahead of a ground offensive on the southern Gaza city. Cliff Kupchan, Eurasia Group chairman, joins CBS News with analysis.
Chinese President Xi Jinping kicked off a three-nation European tour on Monday, starting with America's longtime ally France. Matthew Kroenig, vice president and senior director of the Atlantic Council's Scowcroft Center for Strategy and Security, joins CBS News to examine the trip's significance.
Boeing's Starliner is making its maiden voyage to the International Space Station, with its first piloted launch set for Monday night. The launch comes after years of delays. Mark Strassmann reports.