Housing market shows no sign of thawing as spring buying season nears
CBSN
Although the housing market traditionally thaws every spring, aspiring homebuyers may want to consider an extended hibernation given what is an exceptionally tough market this year.
Home prices last year rose an average of 6.7% in the country's 20 biggest metro areas, according to the latest S&P CoreLogic Case-Shiller data. Across the nation as a whole, housing prices rose than 5% over the last year. Driving the increase are higher mortgage rates, which makes homeowners reluctant to sell their properties given the elevated costs of finding a new place, coupled with a dearth of homes on the market.
"It's just a sort of toxic brew that means that people are not willing to sell houses, and the people who are actually looking for them don't have a lot of stock, or don't have a lot of affordable options," said Javier E. David, managing editor for business and markets at Axios, told CBS News.
Joe Kent, who resigned Tuesday as National Counterterrorism Center director, has been a stalwart Trump supporter, backing him since his 2016 campaign, through his 2020 election defeat, the Jan. 6 riots, as well as during his own conservative media advocacy and two failed congressional bids. In:
Nancy Guthrie has been missing for 45 days, and with the latest update in the case being of little use to authorities, one expert tells CBS News the extended timeline means it "becomes much harder to keep the investigation going." In:
Democratic Sen. Ron Wyden of Oregon accused a top Justice Department official of blocking the release of a document related to a secret investigation of drug trafficking and prostitution by Jeffrey Epstein. In:
Labor leader Dolores Huerta appeared to corroborate allegations of abuse against young women or minors by the late Cesar Chavez on Wednesday, writing in a statement that she had two non-consensual "sexual encounters" with him that ended in pregnancy. In:
As TSA lines get longer and the situation at U.S. airports becomes more uncertain, there's a method for flyers hoping to fast-pass security wait times. In addition to keeping tabs on TSA wait-time trackers, which are often available on individual airports' websites, air travelers can also enroll in the TSA PreCheck Touchless ID program, a verification process that uses biometrics similar to Clear. In:
President Trump hasn't made up his mind yet on whether he wants to send American forces into Iran and seize the country's nuclear material, which would be a very dangerous operation, sources familiar with the matter told CBS News. Margaret Brennan contributed to this report. In:
Josh D'Amaro will become the new CEO of the Walt Disney Co. on Wednesday, succeeding longtime chief executive Bob Iger at the helm of the century-old media and entertainment company. Edited by Aimee Picchi In:
Senate Homeland Security Chairman Rand Paul fiercely criticized Senator Markwayne Mullin during his confirmation hearing on Wednesday, calling him a "man with anger issues" after Mullin previously called Paul a "freaking snake" and that Mullin said he understood why a neighbor attacked Paul in 2017. Nikole Killion and Alan He contributed to this report. In:
President Trump on Wednesday issued a 60-day waiver of the Jones Act, a move aimed at lowering energy prices by letting foreign ships move fuel between U.S. ports. Edited by Alain Sherter In:
Americans may soon pay almost $1 to mail a first-class letter. Edited by Alain Sherter In:
Acting deputy TSA administrator Adam Stahl says the agency is concerned about the growing number of sick calls among TSA officers, which is leading to long security lines at airports across the country. In:
Baton Rouge, La. — An Arkansas law requiring that the Ten Commandments be prominently displayed in public school classrooms was struck down by a federal judge Monday. In:
Former reality TV star Jessie Holmes cruised to a repeat victory in the Iditarod, the roughly 1,000-mile sled dog race in Alaska. In: