June 2017 Volume 43, Number 6 | |||||
Rising Home Prices Drive Up Homeowner DebtAmericans are increasingly paying more for homes and the results are showing up in the form of debt on families’ balance sheets. In 2017, the mortgage debt accrued by the average homeowner rose to $196,014, an increase of 2.5 percent over last year and 6.4 percent higher than nine years ago, according to a new study by Experian. The median existing-home price in February was $228,400, up 7.7 percent from February 2016 ($212,100). The price increase was the fastest since January 2016 (8.1 percent) and marks the fifth year of consecutive year-over-year gains. The annualized rate of home sales climbed to 5.48 million in February, 5.4 percent higher than a year ago. More homes also sold at higher prices, fueling an increase in the average mortgage debt. |
|
Virtual Reality Shakes Up Real Estate All-cash Chinese Buyers Disappearing From U.S. Real Estate Markets Consumer Confidence Falls after Record High Immigrant Households Impact Success of Real Estate Market Multifamily Construction Loans Are Getting Harder for Developers to Find Survey NAR Survey Finds Increase in Consumer Confidence in the Midwest and Rural Areas Purchases of Vacation Homes Declined for Second Straight Year in 2016 Rising Home Prices Drive Up Homeowner Debt The 10 States Investing the Most in Commercial Real Estate
How Sellers Can Avoid the Downsides of Hot Real Estate Markets
| |||
|