How much does a house in the United States cost? ——Latest housing price data and hot spot analysis in 2023
Recently, the U.S. real estate market has once again become the focus of global attention. This article will combine hot topics and structured data from the entire Internet in the past 10 days to analyze the current housing price trends, regional differences and influencing factors in the United States.
1. Core data of U.S. housing prices (third quarter of 2023)
| indicator | numerical value | Year-on-year change |
|---|---|---|
| U.S. median home price | $416,000 | +3.2% |
| 30-year mortgage interest rates | 7.23% | +1.8% |
| housing inventory | 3.2 months | -12% |
| Average transaction period | 34 days | +5 days |
2. Comparison of house prices in popular cities
| city | Median house price | price per square foot |
|---|---|---|
| san francisco | $1,283,500 | $1,050 |
| new york | $785,000 | $980 |
| Los Angeles | $950,000 | $720 |
| houston | $325,000 | $155 |
| miami | $550,000 | $420 |
3. Analysis of recent market hot spots
1.Mortgage interest rates exceed 7% mark: The Federal Reserve’s continued interest rate hike policy has caused the 30-year fixed mortgage interest rate to reach the highest level since 2001, which directly affects the affordability of home buyers.
2.Price correction in Science and Technology City: Technology centers such as San Francisco and Seattle have experienced price drops of 5-8%, mainly due to the normalization of remote working and layoffs of technology companies.
3.The solar belt continues to heat up: Florida, Texas and other places have attracted a large number of immigrants from the Northeast due to tax incentives and cost-of-living advantages. Austin’s housing prices have increased by 12% year-on-year.
4.Changes in the luxury market: The transaction volume of luxury homes worth more than $5 million fell by 23%, while the mid-to-high-end market in the $2-5 million range remained stable.
4. Key factors affecting housing prices
| factors | current level of impact |
|---|---|
| Mortgage interest rate | ★★★★★ |
| job market | ★★★★ |
| Inventory shortage | ★★★★★ |
| Immigration trends | ★★★ |
| construction cost | ★★★ |
5. Forecast for the next six months
According to the latest forecasts from Realtor.com and Zillow:
1. The national median home price is likely to remain in the range of $410,000-$425,000
2. Second- and third-tier cities in the central, western and southern parts of the country may experience an increase of 5-8%.
3. Parts of California may continue to see a correction of 3-5%
4. New housing starts are expected to increase by 15%, easing some supply pressure
6. Advice to home buyers
1.Prioritize locking in interest rates: It is recommended to choose an adjustable rate loan (ARM) to cope with the current high interest rate environment
2.Follow the Emerging Career Center: Places such as the Research Triangle of North Carolina and Nashville, Tennessee
3.Taking advantage of a seller's market: There is more room for price negotiation in some areas
4.Be wary of climate risks: Florida coastal property insurance rates have increased 300%
Note: The above data is synthesized from Redfin, NAR, Case-Shiller index and local MLS systems. The statistical period is September 1-10, 2023.
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