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US Housing Markets Shift to Buyer Favorability in 2023, Realtor.com Finds
Realtor.com reports that about two-thirds of the largest US markets now favor buyers, marking a significant change from recent years. This trend, driven by increased supply and falling prices, could influence the easing of competition for prospective homebuyers.
US Median Rent Falls to $1,667, Lowest in 4 Years After 30 Months of Declines
US median rent declined to $1,667 in February, its lowest since March 2022, continuing a 30-month downward trend. This signals easing rental costs nationally, even as some high-cost California cities experience rising rents.
Century-old Furniture Chain and 31-Year-Old Giant Shut Down Amid Economic Struggles
A 90-year-old furniture chain has filed for Chapter 11 bankruptcy and closed its stores. Meanwhile, 31-year-old furniture giant ScanCom International has shut down after unsuccessful efforts to turn around its business. These closures highlight ongoing economic difficulties impacting furniture retailers and manufacturers.