Real Estate Market Resilience: Home Prices Rise in All Major U.S. Metros

The Real Estate Market in the United States is showing incredible resilience as home prices continue to rise across all major metros. According to data from Redfin, median home-sale prices increased or remained stable in all 50 of the most populous metros during the four weeks ending April 28, 2024. This positive trend is a stark contrast to previous years, marking the first time since July 2022 that no major metro area has seen a decline in home prices year-over-year.

Despite concerns about rising mortgage rates and affordability, the nationwide median sale price hit a near-record high of $383,188, representing a 4.8% increase from the previous year. The scarcity of available homes is driving competition among buyers, keeping prices elevated. Leading the pack in price growth are cities such as Anaheim, CA, Detroit, San Jose, CA, West Palm Beach, FL, and New Brunswick, NJ, with impressive year-over-year increases.

The recent Federal Reserve meeting has kept mortgage rates stable, with the possibility of rate cuts later in the year. This news is expected to prevent further increases in the near term. For those looking to invest in the thriving real estate market, Cityfunds offers a unique opportunity to tap into the market without the challenges of direct property ownership. Cityfunds are diversified portfolios of Home Equity Investments in the nation’s top cities, providing a risk-adjusted approach to real estate investing.

As the housing market continues to demonstrate strength, now may be the perfect time to explore the opportunities presented by Cityfunds. Check out the cities you can invest in with Cityfunds and capitalize on the resilience of the real estate market.