The real estate market in the United States is already recovering from the economic difficulties of the past year, and it is predicted to grow even further in the coming months. According to data from ICE (Intercontinental Exchange), if the average monthly price growth of 0.64% continues, then home prices are expected to increase 8% year-over-year by the end of December 2021.
The demand for home purchases in the United States has been steadily rising due to low mortgage rates, which allows homeowners to purchase properties at more affordable prices and take advantage of the current market conditions. Also contributing to the rising home prices is that there has been an increase in the number of homes listed for sale, resulting in more competition for buyers and a higher demand for housing.
The Key Factors in this Summary Include:
• Predicted growth: ICE predicts that home prices are expected to increase 8% year-over-year by the end of December 2021
• Low mortgage rates: Low mortgage rates allow buyers to purchase properties at more affordable prices
• Increase in homes listed for sale: Resulting in increased competition for buyers and higher demand for housing
You can read this full article at: https://www.housingwire.com/articles/home-prices-and-mortgages-keep-rising-and-it-might-get-worse-still/(subscription required)
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