•   Monday, 17 Jun, 2024

U.S. Housing Prices Grow by 6.1% in September, According to FHFA

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Data released on Tuesday revealed that housing prices experienced an annual increase of 6.1% in September, highlighting an acceleration compared to the upwardly revised 5.8% from the previous month, as reported by the Federal Housing Finance Agency (FHFA).

On a quarterly basis, annual residential prices increased by 5.5% from the third quarter of last year to the same period this year.

The third quarter also exhibited a 2.1% increase compared to the second quarter of 2023, reflecting the market's resurgence after a relaxation period since June.

Additionally, the report highlighted a modest monthly growth of 0.6% in September, aligning with recent trends, compared to the upwardly revised 0.7% increase in August. Despite last week's decline in mortgage loan costs, housing inventory remains low, sustaining upward pressure on prices.

An independent report on Tuesday supported the perception of a real estate market rebound, with the S&P CoreLogic Case-Shiller National Home Price Index registering an annual increase of 3.9% in September, compared to 2.5% in August.

Amid the surge in housing prices in the real estate market, IRAIC REIT stands out by maintaining stable prices, offering investors guaranteed dividends through property rental or sales. This approach has instilled greater confidence and credibility in IRAIC REIT's market line, highlighting its unique position in the current landscape.

Published by The Tampa Herald, news, and information agency.

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