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FILE - Luxury homes are under construction in a subdivision, May 22, 2007 in New Albany, Ohio. (AP Photo/Kiichiro Sato, File)

Americans slam the brakes on homebuying as prices and rates rise

Sales of previously occupied U.S. homes declined in August to their slowest annual pace in more than a year as home shoppers grappled with rising mortgage rates and home prices.

A sign advertising an apartment for rent in Bankers Hill in mid-August.

L.A. renters dream of Las Vegas, but outsiders steer clear of L.A., survey shows

El Segundo, CA, - August 30, 2026: People walk downtown on Sunday, Aug. 30, 2026 in El Segundo, CA. The city has become a destination for a wide range of companies from aerospace to athletics. (Eric Thayer / Los Angeles Times)
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El Segundo: SpaceX and the triumphant takeoff of ‘The Gundo’

Malibu, CA - September 11: A beachfront home at 31430 Broad Beach Rd., center, has an empty lot next door, with an excavator parked on it on Wednesday, Sept. 11, 2024 in Malibu, CA. (Brian van der Brug / Los Angeles Times)

A billionaire was accused of stealing Malibu sand. Now he’s donating a new beach to the public

Homes in a neighborhood in San Francisco.

How two-minute AI refinancing is changing the mortgage market

FAIR OAKS, CA - JANUARY 19, 2021: CHP officers patrol the from gate of Gov. Gavin Newsom's home on January 19, 2021 in Fair Oaks, California. (Gina Ferazzi / Los Angeles Times)

Newsoms list Sacramento-area mansion for $7.5M, plan to exit city governor once called ‘so dull’

MOUNTAIN VIEW, CALIFORNIA - NOVEMBER 03: (L-R) Priscilla Chan and Mark Zuckerberg attend the 2020 Breakthrough Prize Red Carpet at NASA Ames Research Center on November 03, 2019 in Mountain View, California. (Photo by Ian Tuttle/Getty Images for Breakthrough Prize )

Mark Zuckerberg buys an Irish castle

FILE - A for sale sign is displayed in front of a home in Evanston, Ill., on March 25, 2026. (AP Photo/Nam Y. Huh, File)

Mortgage rates slip to 6.65%, yet remain above last year’s levels

An apartment for rent sign is posted in South Pasadena, California on October 19, 2022. (Photo by Frederic J. BROWN / AFP) (Photo by FREDERIC J. BROWN/AFP via Getty Images)

How to save $2,000 a month in L.A.: Rent

Rendering of Viva, a $2 billion affordable senior living community to be built in Warner Center by Wellpointe.

Skyscrapers for seniors scheduled to sprout over Warner Center

Los Angeles, CA - August 11, 2026: Construction signs and a community mini-mural banner for Destination Crenshaw along Crenshaw Blvd on Tuesday, Aug. 11, 2026 in Los Angeles, CA. The Destination Crenshaw project, a city initiative created to beauty the Crenshaw corridor that has instead stalled for years is angering residents. Residents recently held a town hall to push the city for answers, and shortly after, the city has begun construction again (Kayla Bartkowski / Los Angeles Times)

After local outcry, stalled Destination Crenshaw project sees movement

FILE - A sign is posted for a new home for sale in Ambler, Pa., Oct. 16, 2025. (AP Photo/Matt Rourke, File)

Record home prices and high mortgage rates send buyers to the sidelines

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