Despite high mortgage rates in the US, home prices continue to rise. According to the National Association of Realtors (NAR), the median home price increased almost every month in 2022. For example, it reached a record high of $413,800 in June. Before falling to $389,500 in August.
Last week, the mortgage interest rate exceeded 7 percent, reaching the highest level since 2002. Fixed-rate mortgage rates rose to 7.08 percent from 6.94 percent the previous week and 3.14 percent last year, according to a Freddie Mac report.
“As inflation tightens, consumers see higher spending at every turn, leading to further declines in consumer confidence this month.” Sam KhaterFreddie Mac’s chief economist said in a statement.
“Many potential homebuyers prefer to wait and see where the housing market ends, further reducing demand and home prices,” Khater added.
Meanwhile, celebrities in the US are busy making big real estate moves. Here are some of the celebrities who have listed their properties at high prices.
Also read: How investing in real estate just got easier
Host of Celebrity IOU: Joyride, ant Anstead is said to be planning to sell Laguna Beach Cottage for $3.3 million. Anstead bought the house in 2021 for $2.8 million.
The cottage is spread over 1,968 square feet and was built in 1929. The home sits on a 6,925 square foot lot above Woods Cove. The home has views of Catalina Island and the coast.
“Harry Potter” star Daniel Radcliffe recently sold his Manhattan condo for $5.3 million.
Radcliffe bought it in 2008 for $4.9 million and the condo is spread over 2,445 square feet. Building amenities of Radcliffe’s former home include a doorman, concierge, gym, on-site parking, bike storage and a children’s playroom.
Hollywood star Ben Affleck recently sold his 13,500-square-foot home to an undisclosed buyer for $30 million. The property has seven bedrooms, nine bathrooms, a gym, examination room and spa.
Affleck bought the house in 2018 for $19.2 million. Affleck moved into a new house with his wife. Jennifer Lopezand five children.
The star of the series “Dallas”. Patrick Duffy Plans to sell mansion on Rogue River near Medford, OR. The actor is asking $14 million for his 383-hectare property.
The 3,010-square-foot home has four bedrooms and four bathrooms. Duffy’s property includes 100 acres of irrigated land and a 1-acre private lake. The property also has a spa cabin, wine cave, pool house, extensive garden and two guest houses.
Actress Sandra Bullock plans to sell his real estate for $6 million. The property consists of three lots in Valley Center, California, spread over 91 acres, about 40 miles northeast of San Diego.
He bought land for an unknown amount in 2007. The property has four bedroom suites along with avocado and citrus groves. The main house is an area of 6000 square meters.
politician Mitt Romney recently sold his lodge in Utah for $11.5 million. The mountain property is in Deer Valley in Park City. Romney bought the property in 2013 for more than $9 million.
Spread over an area of 8,700 square feet The property consists of six bedrooms and 7.5 bathrooms.
Are you planning to invest in property for passive income? Here’s how you can invest as little as $100 in a rental home.
Photo: Courtesy Gage Skidmore on flickr
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