# The market is exploding: Private house prices have jumped the most this month in the last 6 years ** Is…
# The market is exploding: Private house prices have jumped the most this month in the last 6 years
** Is it time to invest? Or sell existing homes? Take out a second mortgage? There are no absolute answers, but we let the data speak **
US property prices soared in November at the fastest pace in more than six years, a trend driven by demand for as much living space as possible, as many work from home during the plague.
House prices jumped 9.1% in November compared to the previous 12 months, according to the S&P CoreLogic apartment price index in the 20 largest cities - the largest increase since May 2014.
Low interest rates also contribute to an increase in sales, and they have sharply reduced the number of homes available, while supply has not yet filled the gap.
The limited house inventory is pushing house prices upwards, and sales of existing houses rose in December as well as the sale of all 2020 apartments which are at the highest level in 14 years.
Phoenix in Arizona recorded the largest price increase in November compared to the previous year for the 18th consecutive month, with an increase of 13.8%.
12.7% in Seattle, followed by San Diego at 12.3%.
All 19 cities reported a larger price increase compared to the year, compared to October.
Detroit has been unable to fully report home sales data in it due to delays related to the virus closure.
Apartment sales may slow in the coming months, in line with declining sales in the winter, but are expected to remain high.
https://construction.hebrewnews.com/article/782
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