US housing growth was almost 21%

 

 

According to CoreLogic, U.S. real estate prices increased nearly 21% year-on-year this spring.

 

What’s happened?

According to the latest home price index, U.S. property prices in March 2022 continued to rise significantly over the same period last year, rising by 20.9% year on year, a new record.

It’s not so hard to find suitable accommodation today. There are many information and search resources where everyone can simply write in the search box «new construction homes near me». After all, the real estate market will always be in demand. An apartment or house will be a great option for investment, because rental housing saves from annual inflation.

“The annual growth of the US index was the largest we have measured in the 45-year history of the CoreLogic Home Price Index,” CoreLogic says. — And given the rapid growth of mortgage rates, the affordability of housing for buyers has fallen sharply. In April, fixed rates on 30-year mortgages were on average nearly 2 percentage points higher than a year earlier. The payment of principal and interest on the purchase of a house at an average price increased by about 50% in April compared to last April».

Real estate in the USA is the cherished dream of many people all over the planet. Having your own apartment or house in any state of America has always been considered an indicator of wealth. After all, buying American real estate, a person dooms himself to a constant increase in invested funds and creates the opportunity to expand his own prospects.

 

Key Findings

Nationally, housing prices are up 21% in spring 2022 compared to March 2021. On a monthly basis, housing prices rose by 3.3per cent compared to February 2022.

Annual house price growth is projected to slow to 6% by early spring 2023.

For example, in March, Tampa, Florida, recorded the highest annual increase in home prices among the 20 largest urban areas in the country - 32.5%. Phoenix placed second with a 30.4% increase over last year. At the bottom of the price rise were the areas around New York and Washington ( 9.9%).

Reflecting mega-city trends, Florida and Arizona were the states with the highest house price growth, at 31.4% and 28.7%, respectively. Tennessee edged out Nevada to fourth place with a 26.7% increase in house prices.

Due to the large territory of the United States, the purchase of real estate is a unique opportunity for both lovers of the beach coast and those who appreciate the cold climate. In addition, if a person has his own business in the US and leads an active business life, owning a home in the US will be a valuable and profitable acquisition.

The choice of real estate in the USA is very large. Specialists will be able to select the right property for each person, depending on his wishes and budget. Due to the constant rise in real estate prices in the United States, own square meters in this country will provide a tool for unlimited enrichment, as well as the possibility of renting out. In addition, it will contribute to a well-felt rise in:

• - status;
• - prospects;
• - personal comfort from being in an economically developed country.

Experts advise now to think about the purchase of housing, noting that deals are especially profitable for owners of dollar assets. As for them the purchase of American real estate is a good way to protect their savings from depreciation.

The average employment rate of residential complexes in large cities in the USA reaches 90-95% (i.e. profitable apartments purchased by the investor will not be empty more than 5-10% of the time).

 

Buying a property is a good option for saving and increasing personal funds.