At least 61.9% of homes on the market in May failed to go under contract for at least a month. Home sellers in the United States are now struggling to find buyers as mortgage rates remain elevated.
The median asking price for homes dropped roughly $3,000 nationally. Home prices have fallen for the first time in 2022 at the fastest pace recorded since 2022, according to a recent report.
Homes in the top buyer's markets sold for 9% less than the initial listing price, on average. Home buyers in the United States are being faced with a tough market, with listing prices hovering above $430,000 and mortgage rates remaining elevated.
The apartment unit once housed West Side Story's composer Leonard Bernstein. Oscar-winning actress Jessica Chastain has listed her historic New York apartment for sale for $7.
One condominium unit is selling for nearly 18% less than its price last year. Wealthy homeowners of condominium units at an ultra-luxe building on Manhattan's "Billionaires' Row" are selling at a loss following lengthy legal disputes that mired the building.
The entire property spans 16 acres and includes 21 residential buildings. A historic small town in California settled in the 19th century, is now up for sale for a whopping $6.
Rihanna's penthouse spans 9,290 square feet and features eight bathrooms and four bedrooms. Rihanna has found a buyer for her $25 million penthouse in Los Angeles two months after listing the property.