The U.S. housing market has been hit hard by extreme weather at the start of the new year, in addition to the rising cost of homes.
The U.S. housing market has been hit hard by extreme weather – from the wildfires in Southern California to the freezing cold and snow in the Northeast, Midwest and South – at the start of the new year, in addition to the rising cost of homes. These factors have dampened home tours and caused a drop in pending sales during the four weeks ending on Jan. 12, according to the real estate brokerage firm Redfin.
Home prices have jumped 5.8% year over year and daily average mortgage rates also hit their highest level since May last week. In California specifically, homebuying demand and listings in the Los Angeles metro has been dampened due to the wildfires that started earlier this month. In turn, Redfin said it's driving up buying and rental demand from those who have been displaced. In particular, Los Angeles pending sales fell 4% year over year and new listings fell 2.
Real Estate News Lifestyle House Home
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Frankencar 2025: The best of the Motor Authority Best Car To Buy 2025 finalistsTaking the best bits from our award finalists this year, this latest creation is electric with power, style, and three rows of seats.
Read more »
AIMA Tech Unveils 2025 eBike Lineup at CES 2025AIMA Tech, a global leader in sustainable mobility, unveils its groundbreaking 2025 eBike lineup at CES 2025. The new lineup features eight new models and three upgraded designs, each tailored to meet diverse rider needs.
Read more »
GQ Bowl 2025: Bode Aujla's Spring 2025 Collection Takes Center Stage in New OrleansGQ will partner with American designer Emily Adams Bode Aujla to present the inaugural GQ Bowl fashion show on February 7th at Hotel Peter & Paul in New Orleans. The event will showcase Bode Aujla's Spring 2025 Bode Rec. collection, inspired by her father's football past and the vibrant festival culture of New Orleans. The show will be livestreamed on GQ.com and feature a VIP party and all-access coverage.
Read more »
First Huge 500,000,000 XRP Transfer in 2025 Occurs, Ripple CEO Says He's 'Excited' for 2025, Shibarium Might Hit First Major Milestone of 2025 in Days: Crypto News Digest by U.TodayLet's explore the most notable crypto news over the past day in U.Today's news digest!
Read more »
Key things to know for the 2025 tax season in TexasThe Internal Revenue Service (IRS) announced that the 2025 tax season begins Monday, Jan. 27, 2025.
Read more »
China’s Finance Ministry: Will step up fiscal spending, accelerate spending in 2025China’s Finance Ministry said in a statement at the National Fiscal Work Conference on Tuesday that they “will step up fiscal spending, accelerate spending in 2025.
Read more »