How can American house prices still be rising?

nears the top of surveys about what Americans most want in life. Alas, this part of the American dream has rarely been harder to attain. Those looking to enter the property market face a triple whammy of high prices, costly mortgages and limited choice. Together these factors have conspired to make housing deeply unaffordable, with little sign of relief on the horizon.

Surprisingly, this jump in mortgage rates has not led to a decline in house prices. They fell briefly as rates began to rise but have since rebounded to the record highs hit early last year after covid-era stimulus boosted the economy.

Many of those braving the market in order to buy homes have opted for new-builds, not existing stock. One advantage of newly built homes is that they are actually available. Thus they account for about one-third of active listings this year, up from an average of 13% over the two decades before the covid-19 pandemic, according to the National Association of Home Builders.

Property Property Latest News, Property Property Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Rising number of people turn to equity release to clear their mortgage debtThe economic turmoil caused by the pandemic and now the rising cost of living have resulted in many people being concerned about their financial situation. Many are revaluating and prioritising wha…
Source: TheSun - 🏆 64. / 61 Read more »

Number of mortgage approvals to home buyers drops by nearly 10 month-on-monthExperts pointed to the impact of concerns about the wider economy on the housing market for the fall.
Source: Glasgow_Times - 🏆 76. / 59 Read more »

Number of mortgage approvals to home buyers drops by nearly 10 month-on-monthExperts pointed to the impact of concerns about the wider economy on the housing market for the fall.
Source: Observer_Owl - 🏆 18. / 72 Read more »

- latest: ULEZ cameras ripped down; major lender offers 40-year mortgage for first time everA group of people calling themselves 'blade runners' have been tearing down ULEZ cameras that were installed to monitor traffic, covering them up or snipping the wires.
Source: SkyNews - 🏆 35. / 67 Read more »

- latest: Major lender offers 40-year mortgage for first time ever; ULEZ cameras ripped downHSBC has launched a 40-year mortgage for the first time aimed at people who are struggling to afford payments over more traditional periods due to significant interest rate hikes over the last 18 months.
Source: SkyNews - 🏆 35. / 67 Read more »