New York - USA
According to data released by the S&P CoreLogic Case-Shiller index, residential real estate prices in the United States increased by 10.3% in the fourth quarter of 2022 compared to the same period last year. This is the largest annual increase since 2014.
The index also shows that all cities evaluated had price increases, with the largest variations recorded in Phoenix (21.5%), Las Vegas (20.3%) and Seattle (19.1%). On the other hand, some cities experienced a decline in residential real estate prices, such as Chicago (-1.2%), Miami (-1.6%), and Detroit (-2.3%).
Experts say that the increase in residential real estate prices is related to the demand for larger and more spacious homes, caused by the increase in remote work, as well as low interest rates and limited supply of properties on the market.
Although the price increase may be a sign of a booming economy, it can also lead to financial difficulties for those seeking to buy a home. It is expected that the trend of price increases will continue in 2023, but at a more moderate rate.
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