U.S. home prices continue to rise despite rising mortgage rates. According to the National Association of Realtors (NAR), median home prices will rise nearly every month in 2022. For example, it hit a record high of $413,800 in June. before dropping to $389,500 in August.
Mortgage rates topped 7% last week, reaching their highest level since 2002. Interest rates on fixed-rate mortgages rose to 7.08% from 6.94% last week and 3.14% last year, according to Freddie Mac’s report.
“With inflation continuing, consumers are seeing higher costs everywhere, further weakening consumer confidence this month.” Sam CaterFreddie Mac Chief Economist said:
“Many potential homebuyers are choosing to wait and see where the housing market goes, further pushing down demand and home prices,” Khater added.
Meanwhile, celebrities in the United States have been busy with big real estate moves.
Also read: How investing in real estate just got easier
Host of “Celebrity IOU: Joyride”, Ant Anstead reportedly planning to sell him Laguna Beach Cottage for $3.3 million. Anstead said he bought the house in 2021 for $2.8 million.
The cottage spans 1,968 square feet and was built in 1929. The home sits on a 6,925 square foot lot above Woods Cove. The home has views of Catalina Island and the coast.
“Harry Potter” Star Daniel Radcliffe recently sold a Manhattan condo for $5.3 million.
Radcliffe purchased in 2008 for $4.9 million and the condo is spread over 2,445 square feet. Radcliffe’s former home building amenities include a doorkeeper, concierge, gym, on-site parking, bike storage, and children’s playroom.
Hollywood star Ben Affleck He recently sold his 13,500-square-foot home to an unknown buyer for $30 million. The property has 7 bedrooms, 9 bathrooms, gym, screening room and spa.
Affleck bought the house for $19.2 million in 2018. Affleck has moved into a new home with his wife. Jennifer Lopezand five children.
TV series “Dallas” star Patrick Duffy I am planning to sell a mansion on the Rogue River outside Medford, Oregon. The actor is demanding his $14 million for 383 acres of land.
The 3,010 square foot home has 4 bedrooms and 4 baths. Duffy’s property includes 100 acres of irrigated land and a private lake of 1 acre. The property also has a spa cabin, wine cave, pool house, extensive gardens and two guest houses.
actress sandra bullock We plan to sell her property for $6 million. The estate consists of her three lots in Valley Center, California, about 40 miles northeast of San Diego, and is spread over 91 acres.
She purchased the land for an unknown sum in 2007. The property has an avocado and citrus orchard, plus a four-bedroom suite. The main home is a 6,000 square foot area.
politician Mitt Romney We recently sold our Utah lodge for $11.5 million. Mountain Estate is located in Deer Valley in Park City. Romney said he purchased the property in 2013 for over $9 million.
Spread over 8,700 square feet, The estate consists of 6 bedrooms and 7.5 bathrooms.
Are you planning to invest in real estate for passive income? Here’s how to invest in a rental home for as little as $100.
Photo: Courtesy: gauge skidmore on flicker
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