In this article, we will be navigating through the housing market in the United States while covering the 25 cities where home prices are rising despite the high mortgage rates. If you wish to skip our detailed analysis, you can move directly to the 5 Cities Where Home Prices Are Rising Despite the High Mortgage Rates.Housing in the US: An OverviewThe US housing market has been subject to a crisis where the existing supply of houses is unable to meet the demand. Soaring home prices have resulted in housing affordability concerns for Americans. Those who own houses are waiting for the market to go back to normal since they will have to pay a higher mortgage on a new house. On November 7, CNN reported that the US housing market has been the least affordable since 1984. Many of the first-time buyers have given up on the idea of owning a house by choosing to rent one instead. The price-to-income ratio is worse as the average home cost continues to rise as compared to median incomes.Real Estate Options to SeekAmid a tight supply and high mortgages, American home construction companies such as LGI Homes, Inc. (NASDAQ:LGIH), Beazer Homes USA, Inc. (NYSE:BZH), and PulteGroup, Inc. (NYSE:PHM) enable many Americans to settle in decent locations for affordable prices. Let’s take a look a …
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