(iStock) A strong jobs report seemed to defy fears of a looming recession, but contained warning signs for the housing market. The U.S. economy added a robust 372,000 new jobs in June, with notable gains in the leisure and hospitality sector, according to data released by the Department of Labor on Friday. Unemployment remained at […]
Many U.S. housing markets are witnessing a slowdown in response to rising mortgage rates and woes on Wall Street , and northern California has seen the biggest impact, according to a Redfin report Friday. Out of the top 10 markets that have cooled the fastest over the three months from February to May, five were […]
In June, amid high interest rates and slowing home sales in the U.S., Redfin, Compass and other real estate firms laid off hundreds of agents. The job cuts may indicate that brokerages anticipate that the cooling of the U.S. housing market has only just begun, putting an end to the period of record-low mortgage rates, […]
