Sentences with phrase «rapid rise in home prices»
Conforming loan limits for mortgages bought by Fannie Mae and Freddie Mac will increase for the second consecutive year in response to the rapid rise in home prices, the Federal Housing Finance Agency said.
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The results illustrate how New Yorkers are struggling to find affordable homes due to the rapid rise in prices and rents over the last decade.
While revenue initially surged as property taxes caught up with the rapid growth in home prices associated with the pre-recession housing bubble, they fell sharply once home prices plummeted, and since then have risen only slowly.
On the demand side, the strong growth in rent mirrors rapid home price appreciation in the metropolitan area: the median existing single family home price in Naples has risen by 88 % in the last five years and is the highest in the South at $ 417,800 (compared with the U.S. median price of $ 231,100).
«With home prices in a broad trough and historically low mortgage interest rates, high housing affordability conditions and rising rents could stimulate a more rapid sales recovery if banks get back into the business of lending to more creditworthy borrowers,» Yun said.