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Home Price Surge Negating Benefits of Low Mortgage Rates Price appreciation to make housing less accessible for middle-class Americans. Image Credit: Email A recent report in the Wall Street Journal that cited data from the National Association of Realtors and Fannie Mae caught our eye by highlighting an unfortunate reality of low interest rates: while they initially help even the playing field and make homes more affordable for more Americans, after a while, price appreciation will ultimately make housing less accessible for middle- and working-class Americans. Using data combined with anecdotes from home buyers, WSJ illustrated how the rapid pace of price appreciation over the last year is affecting the outlook for the housing market, as high prices negate the impact of mortgage rates that are still near record lows. ....
Provided by Dow Jones By Nicole Friedman U.S. home prices rose nearly everywhere in the first quarter, a rapid price appreciation that shows little sign of fading soon with limited housing inventory and robust demand. The median sales price for existing single-family homes was higher in the quarter compared with a year earlier for 182 of the 183 metro areas tracked by the National Association of Realtors, the group said Tuesday. In 89% of those metro areas, median prices rose by more than 10% from a year earlier. This week s price data was the latest confirmation that the pandemic continues to reshape how and where many Americans want to live. Remote work prompted buyers to seek out more space, while pandemic-related restrictions made vacation houses more desirable, real-estate agents said. ....
Provided by Dow Jones By Nicole Friedman U.S. home prices rose nearly everywhere in the first quarter, a rapid price appreciation that shows little sign of fading soon with limited housing inventory and robust demand. The median sales price for existing single-family homes was higher in the quarter compared with a year earlier for 182 of the 183 metro areas tracked by the National Association of Realtors, the group said Tuesday. In 89% of those metro areas, median prices rose by more than 10% from a year earlier. This week s price data was the latest confirmation that the pandemic continues to reshape how and where many Americans want to live. Remote work prompted buyers to seek out more space, while pandemic-related restrictions made vacation houses more desirable, real-estate agents said. ....
Provided by Dow Jones By Nicole Friedman U.S. home prices rose nearly everywhere in the first quarter, a rapid price appreciation that shows little sign of fading soon with limited housing inventory and robust demand. The median sales price for existing single-family homes was higher in the quarter compared with a year ago for 182 of the 183 metro areas tracked by the National Association of Realtors, the association said Tuesday. In 89% of those metro areas, median prices rose by more than 10% from a year earlier. This week s price data was the latest confirmation that the pandemic continues to reshape how and where many Americans want to live. Remote work prompted buyers to seek out more space, while pandemic-related restrictions made vacation houses more desirable, real-estate agents say. ....
Women in Action Huddle Newburyport hosts event with local leaders Julie Cook The Women in Action Huddle Newburyport’s monthly meeting will be held from 6 to 7:15 p.m. April 8 and will be chock full of speakers from community service groups on the topic “All About Food Security, Community & Changing For Good.” The event will be held on Zoom at https://us02web.zoom.us/j/87536954166 with the meeting ID: 875 3695 4166. The public is cordially invited to join in. Jane Merrow, director of the First Parish Church Newbury Food Pantry, will be the featured speaker on food security. She will discuss the relationships and wide-reaching personal support the organization offers to more than 300 families in the area. In addition, Bonnie Kiec-Schultz, director for the “Among Friends” meal distribution program at St. Paul’s Church in Newburyport, will provide an update on how they will use vegetables from the Huddle’s garden plot in the meals they prepare. ....