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US housing market continues to climb but signs of overheating are already beginning
🎞️ · 21.09.2022 · 03:25:18 ··· MiTTwoch ⭐ 0 🎬 0
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🎬 · 21.09.2022 · 03:25:18 ··· MiTTwoch
😎 · 03.07.2024 · 15:40:29 ··· MiTTwoch
According to the National Association of Realtors, the median home sales price has jumped every month this year, reaching a record high of $413000 in June before falling slightly in July to $403000
Home prices continued to climb despite higher mortgage rates and an increase in housing supply. Such factors typically put downward pressure on home prices. But the numbers still show the market is quite resilient, and costly. There are, however, signs of overheating and slowing growth.
Housing experts say they are keeping a watchful eye on the economy, which is being pulled in all directions by many negative factors such as inflation, gas prices, wars around the world, global trade restrictions due to economic downturns and shortages of raw materials around the world.
Inflation, high mortgage rates and record-high home prices are beginning to diminish housing affordability. Salaries in many industries failed to keep up with inflation and rising cost of living. Affordability is becoming a very serious factor which can affect housing market dramatically.
Buying a house is a complex and very personal decision. Because homes represent the largest single investment most people will make in their lifetime, it is important to be in a good financial position before considering such purchase.
The US housing market is a complex, dynamic system of buyers, sellers, developers and investors. The housing market can be broken down into two major sectors: the residential sector and the commercial sector.
The residential sector includes single-family homes, townhouses, condos and apartments. In this sector, the prices are determined by the local demand for housing and supply of land in that area. The commercial sector includes office buildings, retail spaces and other investments. Commercial real estate prices are determined by demand for space in that area as well as interest rates in that region.
There are many factors influencing demand for US housing including population growth rates, income levels, unemployment rates and mortgage rates to name a few.
· 21.09.2022 · 03:25:18 ··· MiTTwoch
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