The pandemic has brought about some very unique economic circumstances which could have huge ramifications for people considering moving house this year. The economic recovery has triggered a spell of high inflation which is hurting consumers’ buying power.
The United States’ housing market is currently in a state of flux, with house prices sky-rocketing, high interest rates and rental prices on the rise too.
The S&P CoreLogic Case-Shiller Index found that by January 2022 home prices had jumped by 19.2% year-on-year, while the average cost of a single-family rental property had also increased by 12.6%. Now is an expensive time for housing, whether you are renting or buying, so experts are advising people to think what is actually required to satisfy their personal requirements.
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