According to a report released by the National Association of real estate agents on Tuesday, the median price of home sales in the United States in May exceeded $350000 for the first time, reaching a record high of $350300, up nearly 24% from the same period last year. At the same time, European countries are also experiencing different degrees of house purchase fever.
According to the statistics of the National Association of real estate agents in the United States, since the outbreak of the epidemic, the U.S. interest rate cut and the introduction of large-scale stimulus measures, housing prices can be said to have risen rapidly. In the latest report, the prices of all statistical regions rose in May. The year-on-year growth rate of 23.6% reached the highest level since there were statistical data in 1999.
In Europe, housing prices are also rising rapidly in many countries. According to the data recently released by the Netherlands Bureau of statistics, the sales price of completed homes in the country increased by 12.9% in May compared with the same period last year, which is the fastest growth rate since 2001. Benefited from low interest rates and stimulus measures under the epidemic. House prices in many countries around the world rose last year, and this trend has continued until now.
So, who is driving the price up? Judging from the situation in the United States, it seems that the affluent middle class is still the main force. In May, the sales volume of houses between us $750000 and US $1 million increased 178% compared with the same period last year. However, on the whole, the sales volume of existing houses in the United States has declined for four consecutive months. On the one hand, it shows that there is still an obvious shortage of supply in the whole housing market. On the other hand, it also means that higher and higher housing prices have squeezed some people out of the market.
Generally speaking, monetary policy is still a major supporting factor for the real estate market. In the United States, the Federal Reserve not only sets ultra-low interest rates, but also has $40 billion of mortgage-backed securities in the $120 billion monthly bond purchase scale to support the real estate market.