Seller Market: US home prices that have been hit hard | Business and Financial Issues

The average price of a former US home increased by $ 350,000 for the first time in May, as the lack of single-family homes makes it a market for sale.

It is what is known in business as the “retail market”.

The average home price he owned in the United States exceeded $ 350,000 for the first time in May, up 23.6% from a year ago, the National Association of Realtors (NAR) on Tuesday.

In each region of the country, prices have been recorded on real estate prices last month, with 111 consecutive months’ average earnings from 2012 onwards.

The huge monthly inflationary month last month was driven by volatility and volatility, and is a sign of inflation and inflation as the country’s economy continues to recover from last year’s COVID strike.

The market is full of hunters who continue to operate during the epidemic and have seen their wealth increase from a growing stock market, helping them earn money. They also want to use higher interest rates – which are designed to help the labor market in the country – to open up better debt.

This has put sellers in the driver’s seat while home buyers quickly compete for what is available. But the same power imbalance has also kept some would-be buyers on the sidelines, waiting for heat to escape from the country’s burning housing market.

Home buyers combined with a lack of resources to explain why the number of homes sold dropped by 0.9% in May from April, and record the fourth month of entry. But compared to the same period last year, sales were up 44.6%.

“The sale of housing declined slightly in May and is now approaching an epidemic,” said Lawrence Yun, NAR’s chief financial officer. “Lack of inventory continues to sell home sales, but a lack of affordability is just pushing consumers into the market for the first time.”

The first buyer had a 31% share of real estate sales in May, while the business owners or buyers of the second home accounted for 17%.

To show that big business, which is looking to take over their assets and borrow profits, is still in the market – selling wholesale last month represents 23% of sales. That was down from 25% last month but up 17 percent from the same period last year.

The total number of homes at the end of May stood at 1.23 million units, 7% from what happened in April but down by 20.6% since last year.