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☆ Stocks making the biggest moves midday: Moderna, Roku, CVS Health, Robinhood and more
▼ + stars: | 2024-11-18 | by ( Brian Evans | ) www.cnbc.com time to read: +3 min

Trump Media & Technology Group — Shares in President-elect Donald Trump's media company pulled back roughly 5%. Although the stock has been increasingly volatile in the wake of Trump's election, it has gained more than 52% in 2024. Redfin — The online real estate company's stock slipped 3.4% following a downgrade at Goldman Sachs to sell from neutral. CVS Health — Shares of the drugstore operator jumped nearly 6% following a decision to add four new board members in a deal with Glenview Capital. Moderna — Shares of the biotech company jumped more than 5% after HSBC upgraded the stock to buy from hold and said it views the stock as being undervalued.

Persons: Donald Trump's, Donald Trump, Chris Wright, Wright, Baird, Goldman Sachs, Wells, Needham, Piper Sandler, —, Alex Harring, Sean Conlon, Hakyung Kim, Pia Singh, Michelle Fox Organizations: Spirit Airlines —, Trump Media & Technology, Liberty Energy, Goldman, CVS, Glenview Capital, Aetna, U.S . Securities, Exchange, Nasdaq, Moderna —, HSBC, Warner Bros, —, National Basketball Association Locations: Wells Fargo

☆ Here are Monday's biggest analyst calls: Nvidia, Netflix, Tesla, Roku, Moderna, CVS, Alphabet, Robinhood & more
▼ + stars: | 2024-11-18 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Here are Monday's biggest calls on Wall Street: Oppenheimer reiterates Netflix as outperform Oppenheimer said the Jake Paul-Mike Tyson fight "demonstrates [the] ability for meaningful" live event viewership for Netflix. Goldman Sachs initiates Ingram Micro as buy Goldman said the IT solutions provider is well positioned. Goldman Sachs initiates Gatx as buy Goldman said it's bullish on the railcar company. Baird upgrades Roku to outperform from neutral Baird said in its upgrade of Roku that it sees an "attractive long-term opportunity." Needham upgrades Robin Hood to buy from hold Needham said the stock is a beneficiary of the Trump election.

Persons: Oppenheimer, Jake Paul, Mike Tyson, it's bullish, Goldman Sachs, Ingram, Goldman, Baird, Morgan Stanley, Raymond James, Wells, Needham, Biogen, it's, Robin Hood, Trump, Donald Trump's, Bernstein, Tesla Organizations: Netflix, Citi, Astera, Ingram, GATX Corporation, RBC, UBS, Franco, Wheaton Precious Metals, WPM, HSBC, Moderna, Air Products, Hewlett Packard Enterprise, Enterprise, Aetna, Bank of America, Nvidia, " Bank of America, DOJ, Google, BMO, SEC, EV Locations: Nevada, Asia

Mortgage rates were forecast to go down in 2025. Expectations of higher inflation and more government debt under Trump have helped mortgage rates rise in recent weeks. Why mortgage rates rose ahead of the election — and are still high nowMortgage rates went down a lot in September, with 30-year rates dropping near 6%, according to Freddie Mac. How Trump's policies could lead to higher mortgage ratesZhao says that right now it's "nearly impossible" to predict where mortgage rates will go in 2025. More supply would help moderate home price growth, improving affordability even if mortgage rates remain high.

Persons: Donald Trump's, Trump's, —, Freddie Mac, they're, Chen Zhao, Melissa Cohn, Trump, Zhao, Kamala Harris, Cohn Organizations: Trump, Service, Bond, William, Mortgage, Analytics

☆ Why Builders Are Renting Out New Houses Instead of Cutting Home Prices
▼ + stars: | 2024-11-13 | by ( James Rodriguez | ) www.businessinsider.com time to read: +11 min

Builders, meanwhile, are luring buyers with some perks but are barely budging on prices. That's partly because these companies have another place to turn: the rental market. Opportunistic investors — mostly small and midsize players, who own the vast majority of single-family rentals in the country — are happy to oblige. Builders have also started developing entire communities of single-family homes to be rented out rather than sold, a strategy known as build-for-rent. Their embrace of the rental market says more about the obstacles for buyers than for builders.

Persons: homebuilders, John Burns, Keith Hughes, —, Horton, Don Mullen, they've, Adam Stern, Sean Morgan, Alex Offutt, Ray Sturm, Sturm, Selma Hepp, It's Organizations: John Burns Research, Consulting, Builders, John, Houston, Owners, SFR, Sun, Dallas, Local, Business Purpose, Offutt Locations: Tampa , Florida, Carolinas, Nashville, Horton

☆ I moved from California to Idaho because my home state changed politically. I love my new conservative community.
▼ + stars: | 2024-11-10 | by ( Kelsey Vlamis | ) www.businessinsider.com time to read: +6 min

Philip Wiseman and his wife moved to Idaho because they were fed up with California's politics. AdvertisementThis as-told-to essay is based on a conversation with Philip Wiseman, a 70-year-old retiree who moved from California to Idaho with his wife in 2021. Data compiled by Idaho officials showed 78% of voters who moved from California to Idaho registered as Republicans between 2020 and 2023. We miss our California and what California used to be. I used to love California but things changed as I got olderI moved to California when I was around 30.

Persons: Philip Wiseman, —, Monte Sereno, Biden, couldn't, we've, We've, We're, I'm Organizations: Republican, Service, Idaho, Biden Locations: Idaho, Eagle , Idaho, California, Northern California, Silicon, Monte Sereno, Los Gatos, California . California, Nevada, Texas, Arizona , Nevada , Tennessee, Florida, Boise, Eagle, Oregon, Seattle

☆ America’s economy explains a lot about why Trump got reelected
▼ + stars: | 2024-11-06 | by ( David Goldman | ) edition.cnn.com time to read: +6 min

That explains a lot about why Trump was reelected. Why the US economy stings so muchHousing: America’s home prices have reached new record highs for 15 straight months. No, really, the US economy is greatStill, Trump will be inheriting a strong economy — on paper, anyway. But they’re still growing at a 3.9% adjusted rate, according to the Department of Labor. Consumer spending, which accounts for more than two-thirds of America’s economy, is surging, rising 3.7% last quarter, the highest rate of growth since the first quarter of 2023, according to the BEA.

Persons: Donald Trump’s, Trump, Joe Biden, Kamala Harris, they’re, Biden, Covid, That’s, Trump’s Organizations: CNN, Republican, US Department of Housing, Urban Development, Bank of America, Brookings Institution, White, Democratic, Democrat, Companies, Bureau of Labor Statistics, Gross, Economic, International Monetary Fund, Labor, BEA Locations: America

☆ Average age of first-time homebuyers is 38, an all-time high. Here's what that says about the real estate market
▼ + stars: | 2024-11-05 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +3 min

'The biggest issue of housing today'The housing shortage in the U.S. is "the biggest issue of housing today," said Orphe Divounguy, senior economist at Zillow. As of mid-2023, there's a housing shortage of 4 million homes, according to the NAR. Rent prices increased faster than tenants' wages during the pandemic. "We're seeing renters staying renters for longer because affordability has been so squeezed," he said. High rent prices not only affect your ability to save money to buy a home, it can affect your ability to pay down any existing debt, Lautz said.

Persons: homebuyer, Jessica Lautz, Orphe Divounguy, Jonathan Scott, Scott, Selma Hepp, Divounguy, Lautz Organizations: National Association of Realtors, NAR, HGTV, CNBC Locations: U.S

☆ Rent and home prices are through the roof. Harris and Trump each say they have the answer
▼ + stars: | 2024-11-02 | by ( Samantha Delouya | ) edition.cnn.com time to read: +6 min

That shortage also affects rent prices. In August, Harris unveiled a multi-pronged plan to lower housing costs. The plan also includes two main proposals to lower rent costs. Both plans to lower rent would be subject to congressional approval, meaning that the measures may be difficult to pass even if Harris wins the presidency. Unlike Harris, Trump has not rolled out a formal housing plan, but he has tied plans to deport undocumented immigrants to housing.

Persons: Kamala Harris, Donald Trump, “ It’s, ”, Jim Parrott, That’s, ” Parrott, Mario Tama, Freddie Mac, Harris, Trump, “ We’re, homeownership, SSRS, “, Nick Pappas Organizations: CNN, Urban Institute, National Economic Council, SSRS, National Association of Realtors, Trump, Economic, of New, Treasury, Federal Reserve, “ Locations: Arizona , Nevada , Wisconsin , Michigan, Pennsylvania, Georgia, North Carolina, Los Angeles , California, America, of New York, Kansas

☆ Here are the 8 top cities people are moving to for cheaper rent
▼ + stars: | 2024-11-02 | by ( Christine Ji | ) www.businessinsider.com time to read: +3 min

Bank of America shares the top eight cities people are moving to for cheaper rent. The rent hikes are driving people to move to cheaper areas, according to Bank of America. That discrepancy between Bank of America's data and the official rate of rent inflation indicates that people are moving to find more affordable rent instead of staying put, the bank said. Related Video Why rents are still setting record highs in some US citiesThis isn't a new trend — the pandemic led to many people moving to places with cheaper rent as remote work became normalized. Bank of America identified eight cities where people are moving to for cheaper rent below the national average, indicated by a net positive population inflow in Q3 2024.

Persons: — Organizations: Bank of America, Service, Consumer, of, Consumers, Redfin Locations: West, Northeast, York, Boston, San Francisco, San Jose, Los Angeles, Southern

☆ America won the war on inflation. You still think the economy stinks
▼ + stars: | 2024-10-31 | by ( David Goldman | ) edition.cnn.com time to read: +6 min

Although sentiment is improving (more on that soon), poll after poll suggests that Americans hold largely negative views about the US economy. And the US economy remains a job-creation machine, adding 368,000 jobs per month on average during the Biden administration, a record high. But they’re still growing at a 3.9% adjusted rate, according to the Department of Labor. A recent study from the Brookings Institution, released last week, found a correlation between economic sentiment and political affiliation with the party in control of the White House. When Trump took office, Republican economic sentiment surged, while Democratic sentiment cratered.

Persons: Kamala Harris, Joe Biden, Biden, Trump, Covid, That’s, Donald Trump, they’re Organizations: CNN, Bureau of Labor Statistics, Gross, Economic, International Monetary Fund, Labor, BEA, US Department of Housing, Urban Development, Bank of America, Brookings Institution, White, Democratic, Republican, Democrat

☆ Big Tech's vanishing perks have left employees to face a stark new reality
▼ + stars: | 2024-10-31 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

In today's big story, Big Tech is pulling back on the freebies for its employees . The perks help recruit and retain talent and keep employees working at the office. Some Amazon employees aren't buying it. It's not all bad news for Amazon employees, though. Some Amazon employees support Jeff Bezos' controversial WaPo decision.

Persons: —, David Arky, Tyler Le, Insider's Lara O'Reilly, Rob Price, Hugh Langley, Sydney Bradley, It's, Matt Garman, Frederic J . BROWN, BI's Jyoti Mann, Ashley Stewart, Garman, Stave Huffman, Spencer Platt, Natalie Ammari, Tesla, Meta, Jenny Chang, Rodriguez, Harris, Trump, you'll, Jeff Bezos, Bezos, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, Milan Sehmbi Organizations: Business, Service, Microsoft, SEC, Big Tech, Meta, Citibank, Tech, Services, Getty, Amazon Web Services, Amazon, BI, Google, Semiconductor, Intel, Washington Post, Apple Locations: OpenAI, AFP, New York, London

☆ Inside Realtors' Fight for Control of America's for-Sale Home Listings
▼ + stars: | 2024-10-31 | by ( James Rodriguez | ) www.businessinsider.com time to read: +17 min

Agents might be emboldened to share listings among private networks of in-the-know brokers rather than market them to everyone. And if the goal is a transparent market that prioritizes consumers, the clear-cooperation policy is a flawed tool. Redfin estimated that in the second quarter of 2019, about 1.7% of listings, or some 18,000 homes, were likely pocketed. In a hot market, it's easier for brokers to market a home off the databases and still get it sold. What has changed since the rule went into effect is brokerages' eagerness to control access to home listings.

Persons: Smart, —, they'll, Brian Boero, Goliath, Davids, MLSes, doesn't, weren't, Joe Schmo, Saul Klein, Howard Hanna's, Howard Hanna IV, Robert Reffkin, Mauricio Umansky, Redfin, Glenn Kelman, Kelman, haven't, Victor Lund, There's, Buckle Organizations: MLS, National Association of Realtors, NAR, Coldwell, Network, San Diego, Compass, Service, of Justice

☆ How the cost of housing is expected to change under Trump or Harris
▼ + stars: | 2024-10-30 | by ( Allie Kelly | John L. Dorman | ) www.businessinsider.com time to read: +7 min

Detailed below is what Harris and Trump have proposed in order to address these worries. Vice President Kamala Harris and former President Donald Trump have both pledged to address high prices by boosting the supply of homes. Related storiesThe Democratic candidate also said she plans to expand the existing low-income housing tax credit, which incentivizes the rehabilitation or building of housing targeted at lower-income households. As president, Trump proposed major cuts to the federal Department of Housing and Urban Development's budget, including slashing housing assistance and community development aid. AdvertisementWhile in office in 2017, Trump proposed a budget for the 2018 fiscal year that would have significantly cut rural housing subsidies.

Persons: Harris, Trump, —, Kamala Harris, Donald Trump, Daryl Fairweather, Redfin, Fairweather, Jessica Lautz, multifamily Organizations: Service, Business, Democratic, Peterson Institute for International Economics, Builders, of Housing, Urban, National Association of Realtors, Democratic Party Locations: America

☆ We moved from California to Idaho with small-town retirement dreams but moved back after 4 years.
▼ + stars: | 2024-10-27 | by ( Erin Snodgrass | ) www.businessinsider.com time to read: +6 min

Jodi Wright, 56, moved from California to Idaho in 2020 in search of a quiet place to retire. But the family moved back to California earlier this year because of rising prices. AdvertisementWe moved to Idaho in December 2020We listed our house in California, and it sold in one day. Jodi Wright and her family moved to Caldwell, Idaho, a small town about 30 minutes outside of Boise. One of the major differences we noticed between California and Idaho is how clean Idaho is.

Persons: Jodi Wright, Wright, —, We've, COVID, it's, I'm, we're, We're Organizations: Service, Republican, Getty Locations: California, Idaho, Boise, Sacramento , California, Caldwell , Idaho, Redfin, Washington State, Caldwell, Oregon, Dixon , California

☆ A couple who moved from Hawaii to Colorado for a lower cost of living are struggling to afford a home on a six-figure income
▼ + stars: | 2024-10-27 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +6 min

A millennial couple moved from Hawaii to Colorado in 2017 in search of a lower cost of living. AdvertisementEntrepreneurship could help them afford a homeSibok and his girlfriend moved to Colorado in 2017. Related storiesOne of the biggest reasons they left Hawaii was the state's high cost of living. Jon Sibok and his girlfriend are struggling to find a home in their budget in Colorado. AdvertisementWhen the couple first moved to Colorado, home prices and mortgage rates were significantly lower than they are today.

Persons: they've, —, Jon Sibok, Sibok, Redfin, he'd, it's, Doxo, Sibok hadn't, homeownership, he's Organizations: Service, Commerce City , Colorado —, Business, Commerce, Colorado Locations: Hawaii, Colorado, Commerce City , Colorado, Denver, Commerce City

☆ 2 swing states show why the US is struggling to build enough houses
▼ + stars: | 2024-10-25 | by ( Eliza Relman | ) www.businessinsider.com time to read: +8 min

Two swing states — Arizona and Pennsylvania — exemplify in their own ways how housing markets across the country have failed to address the key issue they face: too few homes. Sprawling subdivisions helped accommodate the growing population and were enough to keep housing costs relatively low through the early 2010s. As demand spiked, snarled supply chains helped inflate construction costs. Home prices have risen 39% since January 2020, Horowitz noted, even though the state's population is shrinking. Like many other states, Pennsylvania has underbuilt housing since the 2008 financial crisis, which tanked the housing market.

Persons: —, Alex Horowitz, it's, Horowitz, Mario Tama, we've, Ben Metcalf, Metcalf, Josh Shapiro, Shapiro, Tucson Mayor Regina Romero, Kamala Harris, Donald Trump, He's, Harris, Redfin, Noah Sheidlower Organizations: Service, Pew's, Business, Getty Images, Terner Center, Housing Innovation, UC Berkeley, of Labor Statistics, Pennsylvania, Tucson Mayor, Federal Reserve Locations: Michigan, Wisconsin , Pennsylvania, Arizona, Georgia, North Carolina, Nevada, Zillow, Pennsylvania, Phoenix, . Pennsylvania

☆ Existing-home sales hit a 14-year low as homebuyers hold out for lower rates that may not come
▼ + stars: | 2024-10-23 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

Existing-home sales dropped by 1% last month, reaching their lowest level since October 2010. Homebuyers stayed on the sidelines in anticipation of lower mortgage rates. AdvertisementUS existing-home sales dropped to a nearly 14-year low in September as prospective homebuyers held back in anticipation of lower mortgage rates. AdvertisementAccording to Mortgage News Daily, the average 30-year fixed mortgage rate has climbed by 70 basis points since then, to 6.85% from 6.15%. Related storiesIf this trend continues, those prospective homebuyers holding out for lower mortgage rates will be waiting a while.

Persons: Homebuyers, —, Redfin Organizations: Service, National Association of Realtors, Federal Reserve, Mortgage News

☆ Do real estate agents have to disclose if someone died in a house? Here's how to find out
▼ + stars: | 2024-10-21 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +6 min

Harrison Beacher real estate agent and managing partner at Coalition Properties Group in Washington, D.C. States such as Georgia do not require real estate agents or sellers to disclose upfront if the home was the site of a death. Nearly three-quarters, 72%, of potential homebuyers said they would buy a "haunted" house for a lower price, according to a new report by Real Estate Witch, a data site owned by Clever Real Estate. In some states, real estate agents need to provide truthful information upon a buyer's request, or at the very least, point you toward the right direction to find out. Besides the real estate agent, neighbors can give you first-hand experience of the area, as well as information about the previous homeowners.

Persons: Matt Champlin, Harrison Beacher, Zers, I'm, homebuyers, Daryl Fairweather, Fairweather, Beacher, Leno, Rosemary LaBianca, Charles Manson's, Zak Bagans, Connie Vavra, Theresa Payton Organizations: National Association of Realtors, NAR, Coalition Properties Group, Washington , D.C, Finance, Real, White House Locations: Washington ,, California, Alaska, Dakota, New York, Georgia, Elgin , Illinois

☆ Investors are piling into real estate as values skyrocket by up to 38%. 13 metros with the highest gains, and 25 that are plunging.
▼ + stars: | 2024-10-19 | by ( Laila Maidan | ) www.businessinsider.com time to read: +4 min

Mortgage rates stayed high despite rate cuts, attracting cash-heavy investors to the housing market. AdvertisementDespite the central bank cutting interest rates, mortgage rates haven't followed suit. RedfinBut whether they're buying or selling, investors have been doing quite well regarding capital gains, says Elijah de la Campa, a senior economist at Redfin. Below is a list of the 39 major metro areas in descending order of median capital gains over the past year into June. What stands out most to de la Campa is that many areas with the highest capital gains are affordable, particularly Philadelphia and Warren, MI.

Persons: —, Lily Katz, Katz, Elijah de la, Campa Organizations: Providence, Service, Investors Locations: Cities, San Jose, Denver, Oakland, San Jose , CA, Portland, Oakland , CA, Providence , RI, Philadelphia, Warren , MI

☆ California's economic growth is slipping behind Texas as the Lone Star state draws corporate HQs and people
▼ + stars: | 2024-10-17 | by ( Erin Snodgrass | ) www.businessinsider.com time to read: +6 min

Texas' economy is growing faster than California's as it woos big companies and new residents. But some Texas residents are feeling increasingly fed up and priced out of the state. That figure is even stronger for the fourth quarter of 2023, which saw Texas' GDP grow at an annual rate of 5% — a jump that Texas Gov. Its $3.9 trillion GDP accounts for 14% of the national GDP, according to the report. Some Texas residents are less happyAs Texas' economy soars, some residents are feeling increasingly fed up and priced out.

Persons: —, Greg Abbott, California's, Tesla, Charles Schwab, Abbott, Elon Musk, CBRE, Jennifer Sor, Austin Organizations: Service, Lone Star, Public, Institute of California, Public Policy Institute, Texas Gov, Bureau, Oracle, State for, Chevron, Gov, Fortune, Texas, Nvidia, Golden State, Bureau of Labor Statistics, Texas realtors, BI Locations: Texas, While California, California, , Texas, State for Texas, Palo Alto , California, Austin, Dallas, Fort Worth, Arlington

☆ A 27-year-old who was disappointed with her move from the Midwest to Dallas explains how she got excited about her new city
▼ + stars: | 2024-10-17 | by ( Madison Hoff | ) www.businessinsider.com time to read: +6 min

Griffin Kibens moved to Texas in 2022, and it took a while to feel at home in Dallas. Her colleagues, the Katy Trail, and moving to a new place helped her feel better about Dallas. Kibens moved from Missouri to Texas in August 2022, and the weather that time of year was one of the first downsides. Falling in love with DallasKibens said her colleagues played a large role in beginning to love Dallas. "The Katy Trail really changed my life," she said.

Persons: Griffin Kibens, Kibens, —, Arielle Francois, Zer, Francois, Dallas Kibens, Dallas, Louis, let's, there's Organizations: Katy, Dallas, Service, Fort, Dallas Mavericks, House, Dallas Fort Worth Locations: Texas, Dallas, Missouri, Fort Worth, Arlington, Florida, Katy, Oak Lawn

☆ Buying a home? Here are some key steps to consider from top-ranked advisors
▼ + stars: | 2024-10-15 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +5 min

Therefore, if you are looking to buy a home, there are certain steps you should take to prepare for the purchase, according to several advisors ranked in CNBC's 2024 Financial Advisor 100 List. 23 on the 2024 CNBC FA 100 list. 61 on the 2024 CNBC FA 100 list. 7 on the 2024 CNBC FA 100 list. 38 on the 2024 CNBC FA 100 list.

Persons: you'll, It's, Brian Brady, Stephen Cohn, Ron Brock, Shaun Williams, Ryan D, Dennehy, Bankrate, Realtor.com, Steven LaRosa, Williams, Angi, Brady, it's, Cohn Organizations: Obermeyer, Investment, CNBC, Sage Financial Group, Brock Investment, Paragon Capital Management, California Financial Advisors, Edgemoor Investment Locations: Aspen , Colorado, West Conshohocken , Pennsylvania, Indianapolis , Indiana, Denver , Colorado, California, San Ramon , California, Bethesda , Maryland, Florida

☆ Here's how natural disasters are shaping the buy-versus-rent decision in vulnerable states like Florida
▼ + stars: | 2024-10-13 | by ( Kelly Cloonan | ) www.businessinsider.com time to read: +6 min

Owning a home in high-climate risk states like Florida is becoming tougher amid rising costs. Experts say the next few years will be crucial for housing policy in the wake of severe climate disasters. On the one hand, buyers are facing rising costs as insurance premiums skyrocket. Still, a big advantage to owning a home is the ability to lock in housing costs. That's especially true after climate disasters, according to one study that looked at rent prices following hurricanes in US coastal states.

Persons: Hurricane Milton, homebuyers, Chen Zhao, Jung Hyun Choi, Choi, Katrina, Zhao Organizations: Service, Institute's, Finance Policy Center Locations: Florida, Hurricane, Texas, Georgia, Louisiana, it's

☆ Homebuyers Have Hope With Lower Mortgage Rates, More Houses Available
▼ + stars: | 2024-10-09 | by ( James Rodriguez | ) www.businessinsider.com time to read: +11 min

Wild swings in mortgage rates discouraged almost everyone from venturing out into the market. As I wrote earlier this year, a gummed-up housing market — the Ice Age I was talking about — is good for nobody. When mortgage rates hit multidecade lows during the pandemic, millions of people were able to snag or refinance their way into cheaper monthly costs. That'd be within spitting distance of what the experts at John Burns Research and Consulting, a housing-research firm, call the "magic mortgage rate." In other words, trying to predict mortgage rates — and buying or selling a home accordingly — is a fool's errand.

Persons: Green, that's, Skylar Olsen, everyone's, it's, there's, Fannie Mae, John Burns, they'd, Ralph McLaughlin, Olsen, Lawrence Yun, Altos, Mike Simonsen, Chen Zhao, Zhao, We're, Mark Palim, Palim Organizations: Federal Housing Finance Agency, Federal Reserve, John, John Burns Research, Consulting, National Association of Realtors, Altos Research, Builders, Sun Locations: Sun Belt, Midwest

☆ Falling home prices and fed-up residents show the Texas housing boom is slowing
▼ + stars: | 2024-10-05 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +8 min

The Texas housing market has cooled after a frenzy of activity during the pandemic. The shift in attitudes is an indicator for the state's housing market, which boomed during the pandemic. Median home prices in Texas have fallen around 7% from their highs in mid-2022, according to data from Redfin. The decline is an outlier compared to the broader US housing market, which is still prices hovering around record highs. But those issues are minor relative to things like economic growth and housing affordability, Fairweather says, which she described as two of the biggest factors that could determine if the Texas housing market picks back up.

Persons: Austin, —, Peter Hoholick, Roe, Wade, Hoholick, it's, James Willoughby, Willoughby, he's, Redfin, William Wheeler, Price, Daryl Fairweather, " Fairweather, Fairweather, they're, Samuel Cobb, couldn't, Cobb, hasn't, We're Organizations: Lone Star, Service, Texas —, Lone Star State, realtors, Texas, Census Bureau, . Texas realtors, Bureau of Labor Statistics, BI Locations: Texas, Austin, California, Dallas, Amarillo, Florida , Texas, LendingTree, Fort Worth, Arlington, East Texas

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