The price of a single US family has increased with solid in December, although there is an increase in supply, which together with a high level of mortgage will continue to erode affordability.
The price of the DPR rose 0.4% every month after the increase was up 0.4% which was revised in November, the Federal Housing Financial Agency said on Tuesday. The initial price was reported to have increased 0.3% in November.
They increased 4.7% in 12 months to December, following a 4.5% increase which was revised upward in November, which was previously reported as an increase of 4.2%. A strong price increase is an increase in housing supply, which is driven by receding demand in the middle of a higher level of mortgage.
Home prices increased 4.5% from the fourth quarter of 2023 to the fourth quarter of 2024. The average level of hypotek remains 30-year-old floating under 7% in December, data from the financial agent of Freddie Mac’s mortgage show.
The new housing supply is at the highest 17 years. While the house stock that was previously owned in the market remains below the pre-pandemic level, the inventory has increased significantly.
Last week’s data showed a plunge in the sale of homes in January. The increase in monthly housing prices was led by the Central Atlantic region, which recorded a surge of 0.8%. But the price fell 0.1% in the central region of North West and West.
All census areas reported the increase in annual housing prices in December, with New England and the Atlantic area to lead the package. There is an increase in moderate prices in the southern western region and the Pacific region.
Source: Reuters
