News Formal

U.S. housing market to remain a bright spot in a weak economy: Reuters poll

  • 📰 Reuters
  • ⏱ Reading Time:
  • 34 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 17%
  • Publisher: 97%

United States News News

United States United States Latest News,United States United States Headlines

U.S. house prices will continue to surge well into next year and beyond, outpacing inflation and the overall economy, a Reuters poll of property analysts found, making it a bright spot against an otherwise gloomy economic backdrop.

FILE PHOTO: The Oculus transportation hub rises towards One World Trade in New York, U.S., June 28, 2017. REUTERS/Lucas Jackson

U.S. house prices were predicted to rise 4.0% this year and by an average 3.5% in 2021 and 2022. That suggests the trend since 2013 of house price rises outpacing consumer inflation would continue for the next three years at least, according to current inflation expectations. “However, economic uncertainty remains elevated and the recovery after the pandemic could take time, which are the risks to the current valuations.”Already tight inventory levels have been squeezed to record lows after construction activity came to a grinding halt because of the coronavirus pandemic, and with no policy relief expected, home buyers may outbid each other and crank up prices.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Not when the foreclosures & evictions start. No one in this economy can pay back 7-9 months of back payments.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 2. in US

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Uber, Tesla Stocks Gain: What to Watch When the Market Opens TodayU.S. stock futures rallied, suggesting that markets may recover ground following four consecutive weeks of declines. I AM JESUS ​​CHRIST AND I DO NOT SUPPORT RACISM !! DONALD TRUMP IS THE OLD SERPENT 'THE DRAGON' 'THE DEVIL'. I WILL DEFEND AFRO-AMERICANS !! I came to step on the serpent's head. 'Revelation of the bible' End of the world....... good FBI corruption Cities burning Hunter/Joe corruption Ballot harvesting Flynn disgrace NY 50 billion budget deficit Brain dead candidate - futures reports. Truly a disgraceful newspaper.
Source: WSJ - 🏆 98. / 63 Read more »