Record house prices in the US

US home prices rose to a record high of $391,200 in April, but sales declined, according to the National Association of Realtors ( -in-april-01652975278), as high prices and rising interest rates forced a large number of buyers out of the market.

The U.S. housing market has begun to slow down after a two-year frenzy driven by record low mortgage rates and a desire for more space during the Covid-19 pandemic.

In April, sales were down 2.4% month-on-month and 5.9% year-on-year. The seasonally adjusted annual rate was 5.61 million, the lowest since June 2020.

Consumers are pessimistic about the housing market. Only 19% of consumers surveyed by Fannie Mae in April said now is a good time to buy a house or apartment, up from 47% a year earlier.

That’s why we at Penninvest make finding undervalued properties a top priority. Especially at a time when the demand for buying houses still exceeds supply, and buyers are starting a price war among themselves.

Our potential investors just need to keep an eye on the emergence of new objects for investment. We are very careful in their selection, calculation of the return on investment and the profitability of such facilities.