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A sign indicating that a home is under contract is shown on Tuesday, Jan. 16, 2024, in Kennesaw, Ga. On Friday, the National Association of Realtors reports on existing home sales for December. (AP Photo/Mike Stewart)

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2023 was slowest year for US home sales in nearly 30 years as high mortgage rates frustrated buyers
By ALEX VEIGA - AP Business Writer
Fri,01/19/24-9:17AM , 94 Reads
LOS ANGELES (AP) — Sales of previously occupied U.S. homes sank in 2023 to a nearly 30-year low, as sharply higher mortgage rates, rising prices and a persistently low level of homes on the market combined to push homeownership out of reach for many Americans.
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A sale pending sign is displayed in front of a home in Sudbury, Mass., on Saturday, Dec. 2, 2023. On Thursday, Freddie Mac reports on this week's average U.S. mortgage rates. (AP Photo/Peter Morgan)

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Average long-term mortgage rates edge higher, snapping 9-week slide
By ALEX VEIGA - AP Business Writer
Thu,01/04/24-11:15AM , 102 Reads
LOS ANGELES (AP) — The average long-term U.S. mortgage rate edged higher this week, ending a nine-week slide that gave prospective homebuyers some breathing room after home loan borrowing soared to the highest level in more than two decades.
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A person watches an electronic stock board showing Japan's Nikkei 225 index at a securities firm in Tokyo, on Nov. 16, 2023. Shares were mixed in Asia on Friday, Nov. 23, with Hong Kong retreating on selling of property shares following recent gains.(AP Photo/Eugene Hoshiko, File)

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Stock market today: Wall Street ends mixed in half-day session, marks fourth straight winning week
By ALEX VEIGA - AP Business Writer
Thu,11/23/23-11:06PM , 102 Reads
Stocks drifted to a mixed finish Friday after a half-day trading session capped a holiday shortened week that left the major indexes with their fourth straight winning week.
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Homes in Middlesex Township, Pa., are shown on Apr. 19, 2023. A case in federal court in Missouri ended Tuesday with a jury ordering the National Association of Realtors and some of the nation's biggest real estate brokerages to pay almost $1.8 billion in damages after finding that they artificially inflated commissions paid to real estate agents. (AP Photo/Gene J. Puskar, File)

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Real estate industry facing pushback to longstanding rules setting agent commissions on home sales
By ALEX VEIGA - AP Business Writer
Wed,11/01/23-3:08PM , 199 Reads
LOS ANGELES (AP) — A series of court challenges seek to upend longstanding real estate industry practices that determine the commissions agents receive on the sale of a home — and who foots the bill.
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