Affordability challenges grow for first-time homebuyers in South Florida
The typical age of a first-time home buyer sits at 40-years-old, the highest on record, according to the National Association of REALTORS.
Watch CBS News
The typical age of a first-time home buyer sits at 40-years-old, the highest on record, according to the National Association of REALTORS.
Shanelle Kaul reports that high interest rates and low inventory are driving the slowdown, but there are glimmers of hope that a bounce back is coming.
In June, the median U.S. sale price for a home hit a record high of $396,000, according to Redfin.
Centered on mythical methamphetamine cookers Walter White and Jesse Pinkman, the series wrapped up more than a decade ago, but its legacy continues to draw looky-loos to the home.
As South Florida home prices and costs of living soar, many families are choosing to rent instead of buying.
As South Florida home prices and costs of living soar, many families are choosing to rent instead of buying.
Homeowners in the U.S. are getting older as the dream of buying a house slips further out of reach for many Americans.
Some cities and states are throwing out single-family zoning to increase density and create more affordable housing.
The landmark deal, which goes into effect Saturday, could cause real estate fees to drop by as much as 30%, experts say.
The average yearly cost of homeowners insurance, property taxes and utilities is up nearly $4,000 since 2020.
Continued demand and lack of inventory are driving up the prices of homes at a time when mortgage rates are also climbing.
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 latest innovation in homebuilding is being touted as a game changer that could end up revolutionizing the construction industry.
Mortgage rates recently hit their highest levels in more than two decades, pricing many out of the market. Here's what to expect in 2024.
Homeowners spent a median $22,000 on renovations last year, a sharp increase from the $14,000 spent in 2018.
Despite the housing crisis facing South Floridians, there are still thousands of unoccupied homes in Miami.
As 2023 draws to an end, it is clear that South Florida's real estate market continues to change but what is unclear is what direction it will take.
Everything about financing a home purchase surged last year
The average interest rate on a typical mortgage is now 7.49%, worsening the nation's housing affordability crunch.
Home prices have jumped so much that Americans must pay a third of their income on housing, according to one study.
Mortgage rates have reached the highest level in 20 years, meaning some first-time home buyers could face a tough time trying to purchase a house.
After nine months of leading metro areas across the country in year-over-year increases in home prices, Miami fell out of the top spot in May
June is National Homeownership Month and with rising interest rates and home costs, getting to own a home is becoming more and more costly.
The median existing home price was $396,100 last month, down from 3.1% from a year ago
Buying a home has traditionally been seen as the smarter financial move. But is that still the case?
Just one week into his term, Mayor Bryan Calvo announces that nearly 300 Hialeah businesses have been flagged for potential connections to Cuba's communist regime.
A federal investigation uncovered how the defendants' actions unfolded inside a hotel room.
Vice President JD Vance and second lady Usha Vance announced they are expecting their fourth child.
Mexican Security Minister Omar García Harfuch wrote in a social media post on X that the people transferred were "high impact criminals."
A New York City man was arrested for selling fake tickets to the College Football Playoff National Championship game at HArd Rock Stadium.
Just one week into his term, Mayor Bryan Calvo announces that nearly 300 Hialeah businesses have been flagged for potential connections to Cuba's communist regime.
A federal investigation uncovered how the defendants' actions unfolded inside a hotel room.
Vice President JD Vance and second lady Usha Vance announced they are expecting their fourth child.
Mexican Security Minister Omar García Harfuch wrote in a social media post on X that the people transferred were "high impact criminals."
A New York City man was arrested for selling fake tickets to the College Football Playoff National Championship game at HArd Rock Stadium.
A former prison guard trainee has been sentenced to death for the 2019 execution-style killings of five women inside a Florida bank.
Florida coach Billy Napier is getting a fourth season to try to get the Gators back to their winning ways.
A Florida man has filed a federal lawsuit against Jacksonville sheriff's officers who severely beat him last year after he ran from a traffic stop.
The Marion County Sheriff's deputy told authorities that he accidentally shot and killed his girlfriend while cleaning his gun.
The American Automobile Association said this is a dangerous time of year for young drivers.
Vice President JD Vance and second lady Usha Vance announced they are expecting their fourth child.
President Trump spoke in the White House briefing room for nearly two hours on Tuesday, marking the first year of his second term as he prepares for a high-pressure trip to Europe.
More than 10 countries have signed on to join President Trump's "Board of Peace" for Gaza, sources familiar with the discussions told CBS News.
Andrew Johnson is the latest in a series of pardoned Jan. 6 riot defendants to face new criminal charges.
A U.S. citizen detained by ICE at gunpoint in his underwear in frigid conditions in Minnesota asks, "What did I do wrong?" The Associated Press says
Jim DeFede discusses Governor Ron DeSantis' eighth and final State of the State address with House Speaker Danny Perez.
On Facing South Florida, Jim DeFede spoke with Miami Herald Latin America reporter Antonio Maria Delgado about Delcy Rodríguez's growing control in Venezuela.
On Facing South Florida, Jim DeFede speaks with former interim Venezuelan president Juan Guaidó about Nicolas Maduro's capture.
In a special live episode, Jim DeFede brings us the latest developments and the fallout following the Saturday morning strikes.
Jim Defede's guest this week on Facing South Florida is James Fishback, a Republican candidate for the Florida governor's office.
Roughly 1.4 million fewer Americans have signed up for an Affordable Care Act plan as expiring tax breaks drive up premiums.
The largest nurses strike ever in New York City is underway as thousands of NYSNA members walk off their jobs at major hospitals.
After the ACA tax credit lapsed in December, enrollees are opting for less robust health plans or dropping coverage altogether.
New research recommends against drinking coffee or tea served by airlines, urging travelers to stick to bottled water.
In his new wellness book, "Eat Your Ice Cream," Dr. Ezekiel Emanuel goes beyond the basics of eating, exercise and sleep, to the importance of being happy, social engagement, and recommended behaviors (like "don't be a schmuck") that can benefit longevity.
These gifts from Stanley, Apple, AllTrails and more won't bust your budget.
From top-rated smart mugs to cold brew starter kits, we've rounded up the coffee lover presents to gift this Christmas.
Just in time for the holiday season, Nintendo has released Nintendo Switch bundles and special editions.
For that authentic grilling experience, you can't beat a charcoal grill. We've rounded up the best grill options.
Discover the best tech gifts during the 2024 holiday season that your friends and loved ones will absolutely adore.
A lawsuit filed late last month took Chicago-based McDonald's to task over the McRib sandwich, calling its name a form of false advertising.
Florida insurance policyholders could be seeing some form of relief in their wallets thanks to market reforms made statewide, Gov. Ron DeSantis said.
The company said Tuesday that 85% of its retail products and "nearly all" of its school offerings are already made without "certified colors."
Less than two days after Delta Air Lines offered $30,000 to each passenger on board the flight that crashed and flipped in Toronto on Monday afternoon, the company is facing its first two lawsuits in the incident — and they likely won't be the last.
Activists are calling for a nationwide boycott of Target stores following the company's decision to roll back its diversity, equity and inclusion initiatives.
An assistant for "Queer Eye" star Karamo Brown told "CBS Mornings" he would not be joining Tuesday's interview with the cast ahead of the release of the series' 10th and final season.
The publisher of the Daily Mail tabloid denies claims by Prince Harry and other celebrities of "unlawful information gathering."
Another allegation against Busfield was reported to law enforcement the same day he turned himself in, according to a court filing.
In a video provided to TMZ on Tuesday, Timothy Busfield said the allegations "are all lies."
Scott Adams, the cartoonist who created the "Dilbert" comic strip, has died at the age of 68, his first ex-wife revealed on Tuesday.