M2m condos price. The growth rate of housing sales slowed down. The rise in US house prices fell slightly. FHFA house prices rose 17.4% in October from a year earlier, falling for the third month in a row.Please Visit: M2m condos price to Get Your VVIP Registration Today!
After more than a year of soaring, the rise in house prices across the United States has begun to slow, but the pace of decline has been slow due to a shortage of housing and higher labor costs. From a regional point of view, housing prices in coastal areas such as Phoenix, Tampa, Miami and other coastal areas with a pleasant climate are still rising by more than 20%.
The National Association of Builders NAHB index climbed continuously, to 83 in November, up 3 percent from the previous month. The huge expansion of stock demand supports the confidence index of the construction industry to stay above 50 for a long time, some builders slow down the expansion of demand from home buyers due to supply-side problems, and the shortage of land supply exists for a long time.
Us housing sales are in a downward channel. In November 2021, sales of new homes rose 2.8 per cent from a year earlier (an average of 12 months), while sales of existing homes rose 13.3 per cent from a year earlier, down 2.6 and 2.4 percentage points from October, respectively. Affected by the rebound in mortgage rates and the insufficient supply of sellable housing, there has been a phased correction in US real estate sales.
Long-term mortgage rates in the United States continued to rise from the bottom, and housing credit growth accelerated. Interest rates on 30-year mortgages continued their upward trend this month as expected, with the Fed’s Taper landing and interest rate hikes expected to rise, leaving long-term interest rates under considerable upward pressure in the short term. The growth rate of real estate mortgages at commercial banks rose again in November, suggesting that US house prices are expected to rise again after a phased adjustment in late 2022.
The start of new housing in the United States has been maintained at a high speed of more than 20%, and the growth rate of construction spending has been relatively slow. Overall, the US real estate industry continues to be relatively prosperous, with strong housing starts. However, the problem of undersupply persists, with construction spending (annualised) rising 3.4 per cent in October from a year earlier, up only 0.2 percentage points from September. At present, the rate of convergence of the gap between housing supply and demand is relatively slow, and the short-term downward pressure on US house prices is mainly caused by financial tightening.
Taken together, short-term sales in the US housing market fell, suggesting that the real estate sector’s short-term support for the US economy is declining. With the acceleration of the Fed’s monetary policy tightening, the rise in house prices is likely to slow over the next six months.