Dani Romero

    Reporter

    Dani Romero is a Yahoo Finance reporter covering real estate, stocks and economic trends. She is a graduate of Baylor University Hankamer School of Business in Waco, Texas.

  • Homebuilder confidence hits highest level since July as mortgage rates soften

    US homebuilders are feeling more confident about the housing market than they have since last summer.

  • Zillow stock sinks after realtor settlement paves way for lower commissions

    A landmark change in how real estate brokers are compensated could drive down the commissions homebuyers and sellers will have to pay in the future.

  • Lennar calls affordability 'stretched' as cracks in US housing market appear

    Lennar's CEO said on the company's first quarter earnings call that affordability is "stretched," noting that "we are definitely seeing a little bit more credit card debt and personal debt from the customer showing up in their applications."

  • Housing inflation moderates, but slow progress and long-term issues remain

    Shelter inflation slowed in February, according to the CPI report Tuesday. But housing inflation is neither falling fast enough nor has a light at the end of the tunnel, economists say, until the supply issues are addressed.

  • More homes are up for sale this spring, but rising rates could keep buyers on sidelines

    The spring selling season could be more robust this year as housing inventory picks up steam.

  • America has too many office buildings and not enough living space — why that won't change anytime soon

    There's too much office space in the US. But there are significant barriers to converting it into much-needed residential housing, Goldman Sachs' economic team writes.

  • Lowe's 'confident' DIY demand will rebound: CEO

    Appetite for home improvement projects will likely be sluggish this year, but there are good reasons to expect the slump will be temporary, according to the home improvement retailer Lowe's.

  • Toll Brothers' stock is having a good year. The reason lies in who buys its homes.

    The homebuilder's luxury positioning in the market is a major advantage amid rate cut uncertainty.

  • The Housing Inventory Issue: Yahoo Finance Reports

    The US housing market is facing a trifecta of challenges when it comes to affordability: tight inventory, climbing prices and elevated mortgage rates. So what does that mean for buyers and sellers?! Here are 3 things you need to know about the 2024 housing market:  #1: Inventory People are staying in their homes longer. Thank you baby boomers! The lack of homes for sale and high housing costs are just some of the reasons people aren’t moving. Sales of previously owned homes hit its worst level in decades last year as elevated rates and rising home prices deadlocked affordability.  The demand- supply imbalance will carry into this year. There is a 3.2 month supply of unsold inventory at the current sales pace. For perspective, at least six months of inventory is considered a healthy market. Despite the tight inventory in the resale market, the newly built home market remains attractive. New homes accounted for nearly 32% of single-family homes for sale – Redfin reported – marking the highest level of any fourth quarter on record.  But inventory is only part of the story. There’s also the dilemma with home prices.  #2: Home Prices Buyers beware, but sellers rejoice, because home prices have never been higher! The median price for a home is around $361,000, up 5% from the prior year, Redfin reported.  The pressure of limited housing supply has kept home prices elevated. Homes were 6.7% less affordable in December on a year-over-year basis, the National Association of Realtors reported.  Despite elevated prices, builders have been able to take advantage of lean inventories in the resale market and offer buyers incentives including price cuts. The median sales price of a new home fell 6% from a year ago to $434,000.  But it looks like home prices won’t be leveling off anytime soon. Data from Wells Fargo projects new home prices to rise 2.2%, while existing homes are estimated to increase 3.1% this year. #3: Mortgage rates Another reason for the limited supply of homes has been the lock-in effect.  At least — 80% of homeowners — who hold a mortgage// had a rate of 5% or lower nationally in the third quarter of 2023 –discouraging homeowners from selling and buying another in today’s high interest rate environment.  Rates have roughly doubled since the pandemic — thanks in part to the Federal Reserve’s fight against inflation. Inflation remains stubborn – leaving rates elevated. Last year, mortgage rates rose above 8% in October — but have now come back down to range around 6%.  Data from Freddie Mac shows that the average mortgage rate for a 30-year fixed loan climbed to 6.7% from 6.64% a week prior. Not much reprieve there. By contrast — homebuilders have been able to win the housing recovery by giving buyers what they want: mortgage rate buydowns.  That's when the builder upfronts the cost to lower the rate on the loan — making new construction the place for deals in this housing market.  Economists expect the housing recovery to stall over the next few months given that long-term interest rates have jumped back up again this year. However –the hiatus will likely be short-lived.  How will this economic picture play out throughout the rest of 20-24?  Make sure to stay up to date on the latest developments as Yahoo Finance continues breaking down everything you need to know about the housing market this year.  

  • Home Depot doesn't see a 'hockey stick recovery' for housing market: CEO

    "I'd say we have a neutral look on housing for 2024," Home Depot CEO Edward Decker said on the company's fourth quarter earnings call Tuesday. "We don't think there's incremental pressure nor do we think that we're quite ready for a hockey stick recovery."

  • A popular incentive for homebuyers is here to stay — for now

    Two of the country's biggest homebuilders have said they aren't planning on pulling back on their practice of offering mortgage rate buydowns, where builders cover a portion of the interest rate a buyer pays on a loan.

  • Homebuilder confidence rises for third straight month as mortgage rates decline

    Builder sentiment climbed, reflecting the relative strength of the newly constructed home market and expectations that mortgage rates will continue to move lower.

  • Shelter costs show signs of easing amid hot inflation reading

    Despite a disappointing overall CPI report, the cost of putting a roof over one's head appears to be softening by some measures.

  • Beyond the Ticker: Airbnb

    Although it just went public in 2020, Airbnb (ABNB) has already built itself into the go-to choice for short- and long-term home stays and experiences. Airbnb's gross profit in 2023 was nearly $8 billion, more than a 20% increase year-over-year. Let's take a look at what led to Airbnb's boom with Beyond the Ticker, where we dive into some of the company's biggest moments. 2007 In 2007, Brian Chesky and Joe Gebbia created the initial concept for Airbnb. 2008 One year later, the Airbedandbreakfast.com website launched – renting out 3 air mattresses within their San Francisco loft. 2009 In 2009, the website was shortened to Airbnb.com and expanded from air beds and shared spaces to a wide variety of properties. Later that year, Airbnb raised $585,000 from Sequoia Capital in a seed round – valuing the company at $2.4 million. 2011 By 2011, Airbnb announced it hit 1 million bookings on its website and reached "unicorn" status – the privately owned startup was now valued at $1 billion. 2014 Airbnb completed a redesign of its site and mobile app in 2014, including the new Bélo logo. Later that year, San Francisco voted “No” to a measure to restrict Airbnb rentals in the city. The company spent more than $8 million in its ad campaign in the lead-up to the vote. 2016-2024 Since 2016, Airbnb has expanded through several strategic launches and acquisitions, including Trip4real, Airbnb Experiences, Luxury Retreats, Niido, Airbnb Plus, and HotelTonight 2020 On December 10, 2020, Airbnb went public via initial public offering at $68 a share, raising $3.5 billion. The company was valued at $47 billion. 2023 With plans to expand its AI services, Airbnb acquired GamePlanner.AI in 2023. Airbnb CEO and co-founder Brian Chesky said, "Airbnb is one of the more humanistic companies in technology, and I believe that ... we can develop some of the best interfaces and practical applications for AI.” From tech giants to retail titans, Beyond the Ticker is a historical series that takes a deep dive into some of Wall Street's trending companies and how they transformed into the financial icons they are today. Check out more of our Beyond the Ticker series, and be sure to tune in to Yahoo Finance. Editor's note: This video was produced by Zach Faulds.

  • Don't expect a 'tidal wave' of homes to hit the market as rates decline, PulteGroup CEO says

    Mortgage rates are coming down, but that is unlikely to prompt a surge of existing homes to come onto the market, PulteGroup's CEO said.

  • Rents will continue to fall due to 'a lot of supply in the pipeline,' economist says

    New rental apartments are expected to continue to boost inventory and bring down prices, offering relief to America's renters.

  • D.R. Horton weighs on homebuilder stocks amid jitters over rising rates, incentives

    D.R. Horton stock fell on weaker-than-expected quarterly orders and earnings that missed estimates.

  • Real estate stocks are sinking to start 2024. Why some Wall Street analysts are still bullish.

    Real estate stocks have lagged the broader market so far in 2024, but analysts see upside when the Fed's rate cut path becomes clearer later this year.

  • 2024 will be a 'pivot year' for the housing market: NAHB CEO

    National Association of Home Builders CEO Jim Tobin told Yahoo Finance Live that "we’re heading toward a housing renaissance."

  • KB Home says housing demand has 'improved significantly' as rates moderate

    Homebuilder KB Home said this week that housing demand has improved "significantly" as interest rates have come down.