There are indications that prices growth may be satisfactory in the real estate market.
Prices rose 19.8% year-on-year in August, the same as last month, according to the S&P CoreLogic Case-Shiller Indices. This is the first non-tax increase since the beginning of 2020.
The annual growth of 10 cities was 18.6%, up from 19.2% in July. The 20 combined cities rose by 19.7% year-on-year, down 20% from the previous month. Prices in all major cities remain high.
“We have previously stated that the strength of the U.S. real estate market is driven by the response to the Covid epidemic as consumers move from apartments to cities. Information. Projects to S&P DJI.” “
Phoenix, San Diego, and Tampa, Florida, saw the highest annual earnings in 20 cities in August. Phoenix led with 33.3% of annual revenue, followed by San Diego with 26.2% and Tampa with 25.9%.
Eight out of 20 cities reported higher prices last year on August 20 and last year in July 2021.
The amount was briefly raised with debt reduction in July and August. All 30-year fixed-term mortgage prices fall below 3% in July and remain until mid-September. It then started to rise and is close to 3.25%, according to Mortgage News Daily. Higher wages could lower real estate in the coming months.
Thus, real estate is not always cold, as demand from homebuyers and investors is high. The supply of real estate, especially at the bottom of the market, remains sluggish. Some of the new furniture was received in the summer, but it is still in decay.
“The continued demand for antique real estate buyers has been bolstered by the growing demand for real estate this summer,” said Selma Hepp, chief financial officer at CoreLogic. “While strong housing prices are declining the numbers of buyers, especially first-time buyers, the depth of sale and demand does not match the needs of high-income individuals. They have seen prices continue to rise.”