While home prices in the United States have appreciated by more than a third over the past two years, prices are poised to fall in several housing markets over the next 12 months, according to data analyzed by research firm CoreLogic.
Oh, you want to buy a house? The bad news is that right now, you would pay a historically high price for a home, and as of today, you’d also hand over more money in interest for the privilege to do so — a whopping 5 percent, on average.
U.S. stocks edged lower on Thursday on worries about the raging conflict in Ukraine and the outlook for U.S. interest rate hikes, putting the main indexes on course for their worst quarter since the pandemic crash in 2020.
Runaway house price inflation continues to characterize the U.S. market. House prices across the country rose 15.8% on average in October 2021 from the year before. U.S. house prices are far over their 2006 Bubble peak, and remain over the Bubble peak even after adjustment for consumer price inflation.
Red-hot demand for houses sounds like great news for homebuilders. But builders aren’t as thrilled as you might expect, and one builder is actually turning down orders.
