bravo festival condos review.Global house prices continue to rise strongly.Although the COVID-19 epidemic has had a serious impact on the economy,the US real estate market continues to grow at double-digit rates,while the Canadian real estate market is also growing strongly.Please Visit:bravo festival condos review to Get Your VVIP Registration Today!
After eight years of strong house price growth,the rising momentum of house prices in the United States continues unabated.The seasonally adjusted S&P/Case-Shiller national house price index rose 10.28%(adjusted for inflation)in the first quarter of 2021,up from 2.94%the previous year.The US house price index rose 10.54 per cent year-on-year(adjusted for inflation)in the first quarter of 2021,an increase of 3.96 per cent over the previous year and the highest annual growth rate on record.The s&p/Case-Shiller index rose 2.36%year-on-year in the first quarter of 2021,while the FHFA index rose 2.4%.
As the economy recovers,housing demand in the United States continues to grow strongly.Due to a very low base last year,sales of new single-family homes rose 48.3 per cent in April 2021 from a year earlier,to a seasonally adjusted annual rate of 863000 units.Similarly,sales of existing homes grew strongly by 33.9%in April 2021,at a seasonally adjusted annual rate of 5.85 million units.In the same period,new housing construction increased by 67.3%over the same period last year,and completion increased by 21.7%over the same period last year.
According to the National Association of Home Builders(NAHB)/Wells Fargo Housing Market Index(HMI),confidence among US homebuilders remained high at 83 in May 2021,up from 37 in the same period last year,when flu-related blockades hit housing market activity.50 is the midpoint of positive and negative emotions.
The fed recently raised its economic growth forecast for 2021 to 6.5%from 4.2%,thanks to accelerated vaccine distribution and new government stimulus measures.Last year,the US economy shrank by 3.5%,the biggest decline since World War II demobilized soldiers in 1946.
The real estate market in Canada is growing rapidly.As of the first quarter of 2021,house prices in 11 major Canadian cities rose 8.39%year-on-year,up from 2.92%last year.House prices rose 0.73%in the first quarter from the previous quarter.
According to the Canadian Real Estate Association(CREA),demand rebounded rapidly,with real sales activity rising 256 per cent in April 2021 from a year earlier,reflecting the gap between the best April of this year and the worst April of the 2020 pandemic.In 2020,home sales reached a new record of 551392 units,up 12.6 per cent from the same period last year and 2.3 per cent higher than the previous peak set in 2016.Housing construction is also increasing.In the first quarter of 2021,the number of new housing starts increased by 48.2%year-on-year to 59177 units,while the number of completed houses increased by 5.3%year-on-year to 46019 units.
Bank of Canada(BoC)recently raised its full-year GDP growth forecast for Canada to about 6.5 per cent from a January estimate of 4 per cent.
House prices in Chile are accelerating,while those in Mexico are more or less stable.Brazil,Colombia and Peru,by contrast,are still struggling.
Chile’s real estate market is strengthening as the Chilean economy recovers from the epidemic.As of the first quarter of 2021,the average price of new apartments in Greater San Diego rose strongly by 7.31%,up from 3.62%the previous year.House prices rose 3.7%in the first quarter from the previous quarter.After falling 5.8 per cent in 2020,the copper-rich South American country is expected to grow by 6.2 per cent this year.
Although Mexico’s economy shrank sharply by 8.2 per cent last year,the biggest annual contraction since the 1930s,Mexico’s property market continued to grow moderately.As of the first quarter of 2021,the national house price index rose 2.5%year-on-year,compared with 3.54%year-on-year growth in the first quarter of 2020.On a quarterly basis,house prices rose by 0.96%in the last quarter.The International Monetary Fund expects Mexico’s economy to grow by 5%this year.
The flu pandemic has hampered the recovery of the Brazilian real estate market,with house prices in São Paulo falling 1.73%in the year to the first quarter of 2021 and 1.01%year-on-year last year.House prices in São Paulo fell 0.79%on a quarterly basis in the most recent quarter.After shrinking 4.1 per cent last year,Brazil’s economy is expected to grow moderately by 3.2 per cent this year.
Colombia’s real estate market remains weak after several years of strong gains.On Bogota,house prices fell by 0.98%in the first quarter of 2021 and 3.85%year-on-year in the first quarter of 2020.Last quarter,house prices fell 2.48%from the previous quarter.After plunging 6.8%last year,Colombia’s economy is expected to grow by 5.2%this year-still below its pre-pandemic level.
Peru’s real estate market remains fragile,with house prices falling slightly by 0.53%in the first quarter of 2021,up from a year-on-year decline of 1.99%the previous year.House prices rose 2.1%month-on-quarter last quarter.Peru’s economy is expected to grow strongly by 8.5%this year,but it is still not enough to fully offset last year’s 11.1%contraction,according to the International Monetary Fund.
After the downturn of the past five years,South Africa’s property market is showing signs of improvement.As of the first quarter of 2021,the price index of medium-sized apartments rose 1.25%,an improvement from a 2.65%decline a year earlier.But on a quarterly basis,house prices fell by 1.83%in the first quarter.South Africa’s economy is expected to grow slightly by 3.1%this year,after shrinking by 7%last year due to a flu pandemic.
The real estate market in Puerto Rico rebounded strongly,with the seasonally adjusted housing price index rising 23.68 per cent in the year to the first quarter of 2021,while inflation-adjusted data showed a 3.28 per cent year-on-year decline in the first quarter of 2020.This is the biggest annual increase in house prices since records began in 1995.House prices rose 7.77%month-on-month in the first quarter of 2021.