JD Vance didn't need the house because the vice president's official residence is at the Naval Observatory. He rents out the other DC house he owns.
Homebuyers could gain more power in the housing market as sellers get fewer offers.
Some homeowners who've seen their home values soar are concerned a federal capital-gains tax on home sales will eat into their retirement.
If inflation fears are overblown, the recent ITB correction could be a great buying opportunity," Ned Davis Research said.
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Zillow argued that an uptick in inventory from a wave of baby boomers selling their homes would mainly affect areas of the US with less demand.
Existing home sales saw their first annual jump since 2021 last month, the National Association of Realtors said.
Just 2.5% of US homes have swapped hands so far this year, the slowest pace of turnover since the 90s, per a new Redfin analysis.
Redfin also said that more than 20% of homes on the market got a price cut in August, the highest share for an August in five years.
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Existing home sales fell 1% in August from July, reaching their lowest level since the pandemic, according to a report from Redfin on Wednesday.
Sales of starter homes in July were the highest in over a year as first-time buyers take advantage of lower rates, a report from Redfin shows.
Existing home inventory increased nearly 6% last month, suggesting the housing market's inventory crisis is easing.
In February, housing starts jumped by the most in nine months, while building permits spiked by the most since August.
Properties that sold last June gained 2.3% more compared to earlier in the year, Zillow found.
High mortgage rates and home prices have pushed buyers off the market, reducing the number of sales per agent to the lowest level since 2010.
"I think we hit rock bottom and the only way to go from here is up," Redfin's chief economist said of housing-market activity.
A bounce in supply and lower demand in 2023 wasn't enough to offset years of underbuilding in the US housing market.
The housing landscape today is dramatically different from the last time home sales saw a similar slowdown to what the market went through last year.