Affordability challenges grow for first-time homebuyers in South Florida
The typical age of a first-time home buyer sits at 40-years-old, the highest on record, according to the National Association of REALTORS.
Watch CBS News
The typical age of a first-time home buyer sits at 40-years-old, the highest on record, according to the National Association of REALTORS.
Shanelle Kaul reports that high interest rates and low inventory are driving the slowdown, but there are glimmers of hope that a bounce back is coming.
In June, the median U.S. sale price for a home hit a record high of $396,000, according to Redfin.
Centered on mythical methamphetamine cookers Walter White and Jesse Pinkman, the series wrapped up more than a decade ago, but its legacy continues to draw looky-loos to the home.
As South Florida home prices and costs of living soar, many families are choosing to rent instead of buying.
As South Florida home prices and costs of living soar, many families are choosing to rent instead of buying.
Homeowners in the U.S. are getting older as the dream of buying a house slips further out of reach for many Americans.
Some cities and states are throwing out single-family zoning to increase density and create more affordable housing.
The landmark deal, which goes into effect Saturday, could cause real estate fees to drop by as much as 30%, experts say.
The average yearly cost of homeowners insurance, property taxes and utilities is up nearly $4,000 since 2020.
Continued demand and lack of inventory are driving up the prices of homes at a time when mortgage rates are also climbing.
The annual income needed to afford even a basic home in the U.S. has risen sharply since the pandemic, a new report shows.
The latest innovation in homebuilding is being touted as a game changer that could end up revolutionizing the construction industry.
Mortgage rates recently hit their highest levels in more than two decades, pricing many out of the market. Here's what to expect in 2024.
Homeowners spent a median $22,000 on renovations last year, a sharp increase from the $14,000 spent in 2018.
Despite the housing crisis facing South Floridians, there are still thousands of unoccupied homes in Miami.
As 2023 draws to an end, it is clear that South Florida's real estate market continues to change but what is unclear is what direction it will take.
Everything about financing a home purchase surged last year
The average interest rate on a typical mortgage is now 7.49%, worsening the nation's housing affordability crunch.
Home prices have jumped so much that Americans must pay a third of their income on housing, according to one study.
Mortgage rates have reached the highest level in 20 years, meaning some first-time home buyers could face a tough time trying to purchase a house.
After nine months of leading metro areas across the country in year-over-year increases in home prices, Miami fell out of the top spot in May
June is National Homeownership Month and with rising interest rates and home costs, getting to own a home is becoming more and more costly.
The median existing home price was $396,100 last month, down from 3.1% from a year ago
Buying a home has traditionally been seen as the smarter financial move. But is that still the case?
His lawyers argued that Rozier's alleged involvement in the wire fraud and money laundering conspiracies is limited.
Bucks County officials say the two people killed after explosions at a Bristol nursing home were a resident and a staff member.
The three inmates who escaped the DeKalb County Jail threatened to kill and sexually assault their terrified Lyft driver while fleeing to Florida, court documents reveal.
President Trump said TV broadcast licenses should be revoked if newscasts and late-night shows are almost entirely negative about him and the GOP.
According to MDSO, at about 2 a.m., deputies were called to the 2000 block of Northwest 63rd Street after reports of multiple gunshots.
His lawyers argued that Rozier's alleged involvement in the wire fraud and money laundering conspiracies is limited.
Bucks County officials say the two people killed after explosions at a Bristol nursing home were a resident and a staff member.
The three inmates who escaped the DeKalb County Jail threatened to kill and sexually assault their terrified Lyft driver while fleeing to Florida, court documents reveal.
President Trump said TV broadcast licenses should be revoked if newscasts and late-night shows are almost entirely negative about him and the GOP.
According to MDSO, at about 2 a.m., deputies were called to the 2000 block of Northwest 63rd Street after reports of multiple gunshots.
A former prison guard trainee has been sentenced to death for the 2019 execution-style killings of five women inside a Florida bank.
Florida coach Billy Napier is getting a fourth season to try to get the Gators back to their winning ways.
A Florida man has filed a federal lawsuit against Jacksonville sheriff's officers who severely beat him last year after he ran from a traffic stop.
The Marion County Sheriff's deputy told authorities that he accidentally shot and killed his girlfriend while cleaning his gun.
The American Automobile Association said this is a dangerous time of year for young drivers.
President Trump said TV broadcast licenses should be revoked if newscasts and late-night shows are almost entirely negative about him and the GOP.
President Trump has overhauled parts of the White House at a sprinter's pace with virtually no oversight, and it appears there is little standing in his way.
The declaration issued by the U.S. Department of Health and Human Services called treatments like puberty blockers, hormone therapy and surgeries unsafe and ineffective for children and adolescents experiencing gender dysphoria.
The Education Department signaled earlier this year that it would move to resume wage garnishment, among other forms of involuntary collection, for those in default.
Republican Ben Sasse represented Nebraska in the U.S. Senate from 2015 to 2023, then became president of the University of Florida.
Jim Defede's guest this week on Facing South Florida is James Fishback, a Republican candidate for the Florida governor's office.
Guest host Lauren Pastrana is joined by Ron Book, chairman of the Miami-Dade Homeless Trust.
Guest host Laura Pastrana talks with one of the big winners from Tuesday's runoff elections, Miami Beach Commissioner-elect Monica Matteo-Salinas.
Jim Defede goes in-depth on the second vote by the Miami Dade College Trustees to donate land for the proposed Trump Presidential Library.
Jim DeFede investigates the millions of dollars in state funding cuts for meal programs across South Florida.
Millions of people with an Affordable Care Act health plan face a massive jump in premiums next year — this chart shows just how much.
A California digital health company and a Florida medical practice have been indicted in an alleged $100 million scheme to illegally distribute Adderall over the internet to patients across the country who didn't need it, federal prosecutors said Wednesday.
Physicians and educators spoke out against the proposed repeal of vaccination requirements for diseases such as chickenpox during a Department of Health workshop in Panama City Beach, while vaccine critics applauded Gov. Ron DeSantis' administration for advancing the plan.
"I don't know how I'm going to pay for this," said one person with an Affordable Care Act plan that will cost her $1,100 a month starting in January.
An interdisciplinary team of researchers from the University of Miami, The Ohio State University, University of Michigan and other institutions coauthored the study.
These gifts from Stanley, Apple, AllTrails and more won't bust your budget.
From top-rated smart mugs to cold brew starter kits, we've rounded up the coffee lover presents to gift this Christmas.
Just in time for the holiday season, Nintendo has released Nintendo Switch bundles and special editions.
For that authentic grilling experience, you can't beat a charcoal grill. We've rounded up the best grill options.
Discover the best tech gifts during the 2024 holiday season that your friends and loved ones will absolutely adore.
Florida insurance policyholders could be seeing some form of relief in their wallets thanks to market reforms made statewide, Gov. Ron DeSantis said.
The company said Tuesday that 85% of its retail products and "nearly all" of its school offerings are already made without "certified colors."
Less than two days after Delta Air Lines offered $30,000 to each passenger on board the flight that crashed and flipped in Toronto on Monday afternoon, the company is facing its first two lawsuits in the incident — and they likely won't be the last.
Activists are calling for a nationwide boycott of Target stores following the company's decision to roll back its diversity, equity and inclusion initiatives.
Discount store chain Target says it's joining rival Walmart and a number of other prominent American brands in scaling back corporate diversity, equity and inclusion initiatives.
Feeding America's CEO said the organization is "incredibly grateful" for Taylor Swift's large donation.
It's a heartwarming tale that captures the essence of the holiday spirit. Through a mesmerizing journey of dance, the Miami City Ballet breathes life into George Balanchine's timeless masterpiece, The Nutcracker.
The singer said an MRI showed a cancerous spot on one of his lungs after he recovered from a lengthy bout of bronchitis.
Comedian and actor Bowen Yang performed his final sketch on "SNL" Saturday night, after announcing his unexpected mid-season exit from the show.
Albert Brooks said he's still in shock over the death of his friend Rob Reiner, whom he met at 14 years old.