The dream of homeownership is getting further and further away for Americans.<br />For households, it is becoming increasingly difficult to acquire a property.<br />And this trend is likely to intensify.<br />With the health crisis, many households are looking for greenery.<br />But for the 120th consecutive month (10 years!), home prices continue to rise to reach an average <br />of $357,000.<br />This represents a 15% increase between February 2021 and February 2022.<br />Concerning new constructions, the market is facing an inflation of building materials and longer supply times.<br />Added to this is the rise in borrowing rates.<br />In January 2022, the US 30-year mortgage rate was 3.1%.<br />It is now above 4.5%.<br />This is the highest rate since December 2018.<br />Some even predict that it could exceed 5%.<br />If this were to happen, it would be a first since 2010.<br />The average 15-year fixed mortgage rate rose from 3.09% to 3.4% in just one week.<br />Thus, households that were previously eligible for a loan are now excluded.<br />Faced with this situation, real estate sales are decreasing while the number of unsold homes is increasing.
