Home buyers are canceling purchase contracts. What to know before you do

Steve Pfost | Newsday | Getty Images Amid higher interest rates and a softening housing market, home buyers are continuing to back out of purchase contracts at an elevated rate. About 64,000 home-purchase agreements were canceled in August, according to a new report from Redfin. That’s equal to 15.2% of home contracts initiated during the … Read more

Stanford University unit grabs big Bay Area apartment complex

PALO ALTO — Stanford University has gained ownership of a big apartment complex in Palo Alto that’s next to the college through a byzantine array of transactions, public records indicate. Oak Creek Apartments located at 1600 Sand Hill Road in Palo Alto is the residential complex that’s at the center of a web of intricate … Read more

More homebuilders lower prices, sentiment falls for ninth straight month

A worker walks on the roof of a new home under construction in Carlsbad, California. Mike Blake | Reuters More builders are lowering prices for homes as their confidence in the market continues to tumble. Homebuilder sentiment in September fell three points to 46 on the National Association of Home Builders/Wells Fargo Housing Market Index. … Read more