Post by account_disabled on Feb 22, 2024 4:37:26 GMT -6
Housing prices in the United States rose again in October for the ninth consecutive month, in this case 0.6% compared to September, according to data from S&P CoreLogic Case-Shriller. This is the fastest annual pace so far with increases in 19 of the 20 cities, highlights Brian Luke, head of commodities, real assets and digital at S&P Dow Jones Indices.
Rising rates and mortgage costs have caused many Job Seekers Phone Numbers List homeowners to postpone possible moves while waiting for the situation to reverse. These homeowners prefer to maintain mortgages with cheaper costs, while interest rates were especially low.
This decision is causing there to be less supply of properties for sale, since few decide to get rid of their current homes. Therefore, those who are determined to purchase a house must assume the highest prices of the few options for sale. Specifically, the index shows data from a period in which mortgage interests were close to 8% , which left out a large part of the population interested in buying.
Regarding interannual data , the increase in October is 4.8%, compared to the 4% interannual increases that September marked. This represents a greater acceleration in annual price increases, which have been especially notable in Detroit , where they have risen 8.1%.
In second place, San Diego has suffered an increase of 7.2% , followed by New York , with 7.1%. Portland has become the only city of the 20 that has seen its prices fall compared to data from a year ago.
With mortgage rates falling as low as 7%, pressure on potential buyers could ease in the coming months, especially if the Federal Reserve limits anti-inflation policies. Lower rates would ease pressure on homeowners who might consider putting their homes up for sale, helping to stabilize prices.
It should be noted that October's month-on-month rise has become the smallest since June, marking the third consecutive month in which increases appear to slow, according to data from the Redfin Corporation index.
Rising rates and mortgage costs have caused many Job Seekers Phone Numbers List homeowners to postpone possible moves while waiting for the situation to reverse. These homeowners prefer to maintain mortgages with cheaper costs, while interest rates were especially low.
This decision is causing there to be less supply of properties for sale, since few decide to get rid of their current homes. Therefore, those who are determined to purchase a house must assume the highest prices of the few options for sale. Specifically, the index shows data from a period in which mortgage interests were close to 8% , which left out a large part of the population interested in buying.
Regarding interannual data , the increase in October is 4.8%, compared to the 4% interannual increases that September marked. This represents a greater acceleration in annual price increases, which have been especially notable in Detroit , where they have risen 8.1%.
In second place, San Diego has suffered an increase of 7.2% , followed by New York , with 7.1%. Portland has become the only city of the 20 that has seen its prices fall compared to data from a year ago.
With mortgage rates falling as low as 7%, pressure on potential buyers could ease in the coming months, especially if the Federal Reserve limits anti-inflation policies. Lower rates would ease pressure on homeowners who might consider putting their homes up for sale, helping to stabilize prices.
It should be noted that October's month-on-month rise has become the smallest since June, marking the third consecutive month in which increases appear to slow, according to data from the Redfin Corporation index.