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.
Hope Hicks, one of Trump's closest aides for years, told jurors how she handled the fallout from "hush money" payments made to two women before the 2016 election.
President Biden awarded the Presidential Medal of Freedom, the nation's highest civilian honor, to 19 recipients.
Democratic Rep. Henry Cuellar of Texas was elected to the House in 2005 and represents the state's 28th Congressional District.
Three suspects were arrested and charged in the slaying of Hardeep Singh Nijjar by masked gunmen outside Vancouver.
The hostage and cease-fire talks have taken on new urgency amid a looming Israeli ground invasion of Rafah, in southern Gaza.
Australian brothers Jake and Callum Robinson and their American friend have not been seen since April 27.
The Texas dairy worker infected by H5N1 "did not disclose the name of their workplace," frustrating investigators.
The decision prompted a wave of public backlash as women saw fertility treatments canceled or put in jeopardy after the ruling.
Massachusetts investigators uncover a suspicious web history after Brian Fanion reports his wife Amy's death as a suicide.
Nine-year-old Kelvin Ellis Jr. had just received the dollar for good grades, and it was the only money he had to his name.
Caitlin Clark and Angel Reese suited up as professionals for the first time Friday night as the brief league preseason begins.
The decision prompted a wave of public backlash as women saw fertility treatments canceled or put in jeopardy after the ruling.
The retailer says the peelable treats have been "flying off the shelves" ever since TikTokers discovered the candy.
In one find, a K-9 officer helped police find over a dozen fish buried in the sand and hidden behind logs and brush piles.
The retailer says the peelable treats have been "flying off the shelves" ever since TikTokers discovered the candy.
Audit firm BF Borgers allegedly failed to comply with accounting standards and fabricated audit documentation, regulators claim.
U.S. unemployment rate rose slightly to 3.9% in April, continuing a stretch of remaining under 4% for 27 months.
Job site Indeed identified the top 10 most sought-after job candidates by employers and recruiters. Here's what they found.
Peloton CEO Barry McCarthy exits as it lays off more staff. What's ailing the fitness company?
The decision prompted a wave of public backlash as women saw fertility treatments canceled or put in jeopardy after the ruling.
The hostage and cease-fire talks have taken on new urgency amid a looming Israeli ground invasion of Rafah, in southern Gaza.
Democratic Rep. Henry Cuellar of Texas was elected to the House in 2005 and represents the state's 28th Congressional District.
Ex-government employee Miguel Zapata is accused of sending fake FBI tips falsely accusing multiple coworkers of taking part in the Jan. 6, 2021, Capitol breach.
Roughly 100,000 immigrants who were brought to the U.S. as children are expected to enroll in the Affordable Care Act's health insurance next year under a new administration rule, the White House says.
The Texas dairy worker infected by H5N1 "did not disclose the name of their workplace," frustrating investigators.
Stress is hard to avoid, but experts say getting outdoors can have a positive impact on both our mental and physical health.
Actress Halle Berry joined with a group of bipartisan senators on Thursday to announce new legislation to promote menopause research, training and education.
New CDC data shows about 680 women in the U.S. died during pregnancy or shortly after childbirth in 2023, a decline from the previous year.
UnitedHealth Group CEO Andrew Witty disclosed that a cyberattack on one of its subsidiaries earlier this year might affect up to a third of all Americans.
Three suspects were arrested and charged in the slaying of Hardeep Singh Nijjar by masked gunmen outside Vancouver.
The U.N. is warning that an Israeli offensive in Rafah would put hundreds of thousands of Palestinians "at imminent risk of death."
The substance was found during a 2023 excavation of a Roman bathhouse.
The woman — identified by the Brussels Times as Annie De Poortere — disappeared on November 12, 1994.
Former U.K. Prime Minister Boris Johnson was turned away from a polling station for failing to bring a photo ID - required under a law introduced by his government.
In his new memoir the star of such hit TV series as "Magnum, P.I." and "Blue Bloods" writes of the serendipity that launched his career.
Preview: More than a decade after a stroke robbed the country artist of his cherished singing voice, computer technology has helped create his new single, "Where That Came From."
Marc Summers says bringing his play to New York City has been a "dream," after a career that's often has played out in front of a live audience.
Kiki Wong got her first guitar from Costco at 13 years old. Now she's joining The Smashing Pumpkins.
The classic kids' game show "Double Dare" premiered in 1986, and was a massive success for Nickelodeon, which became one of the biggest cable channels of the 1990s. Behind much of that success was TV host Marc Summers. He's enjoyed a long career in front of and behind the camera, hosting and producing shows for Nick, Food Network and others. "CBS Mornings" met with the 72-year-old on the set of his new one-man play in New York City, called "The Life and Slimes of Marc Summers."
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.
There's a newly-determined "major factor" in declining bumblebee populations – and it's attacking their nests.
On Monday, Boeing plans to launch astronauts on its new spacecraft that is called Starliner. The test flight to the International Space Station is years behind schedule.
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.
For the first time since 1803, two groups of periodical cicadas are emerging from the ground at the same time in parts of the Midwest and South. However, a small section of Central Illinois marks the only place where both the 13-year and 17-year cicadas are emerging in the same place. Dave Malkoff reports on the extraordinary event.
Much of Asia is sweltering under a heat wave that one expert calls "by far the most extreme event in world climatic history."
In one find, a K-9 officer helped police find over a dozen fish buried in the sand and hidden behind logs and brush piles.
Massachusetts investigators uncover a suspicious web history after Brian Fanion reports his wife Amy's death as a suicide.
James Craig's lawyers have argued there is no direct evidence that he put poison in his wife's protein shakes.
The woman — identified by the Brussels Times as Annie De Poortere — disappeared on November 12, 1994.
Usher Weiss, 26, must pay a $5,000 fine and surrender all contraband.
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.
It is the latest advance in China's increasingly sophisticated space exploration program, which is now competing with the U.S.
Boeing is set to launch its first-ever spaceflight with humans next week. The Starliner spacecraft will lift off from Florida on Monday night for a multi-day mission to the International Space Station. Commander Barry "Butch" Wilmore and pilot Sunny Williams, two seasoned NASA astronauts who are a part of the mission, join CBS News to go over the flight.
The Horsehead Nebula, which NASA has called "one of the most distinctive objects in our skies," is located in the constellation Orion.
Astronauts Barry Wilmore and Sunita Williams say they have complete confidence in the Starliner despite questions about Boeing's safety culture.
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.
A tornado touched down in the city of Hawley, Texas, late Thursday, destroying several homes. One family whose young son was injured described the life-threatening ordeal. Omar Villafranca reports.
Lenzo Thompson, a crossing guard for the Rutherford County School District outside Nashville, Tennessee, has been known to dress up on the job, as Santa, Cupid, or even the Easter Bunny.
Nine-year-old Kelvin Ellis Jr. of Louisiana had just received a dollar for good grades, the only dollar to his name. When he chose to give it away to a man he thought was homeless, he received a surprising reward. Steve Hartman has the story in "On the Road."
President Biden Friday awarded the Presidential Medal of Freedom to 19 people, including House Speaker Nancy Pelosi, former Vice President Al Gore and Olympic swimmer Katie Ledecky. Weijia Jiang reports.
Jordan's Queen Rania Al Abdullah, who is of Palestinian descent, spoke with "Face the Nation" moderator Margaret Brennan about the pro-Palestinian protests which have swept universities across the U.S.