House prices in the US have continued to rise despite higher mortgage interest rates. According to the National Association of Realtors (NAR), the median home price has jumped nearly every month in 2022. For example, it hit a record high of $413,800 in June before falling to $389,500 in August.
Last week, mortgage rates passed the 7 percent mark to the highest level since 2002. According to the Freddie Mac report, interest rates on fixed-rate loans rose to 7.08 percent, up from 6.94 percent the week before and 3.1[ads1]4 percent last year.
“As inflation continues, consumers see higher costs each time, causing a further drop in consumer confidence this month,” Sam Khaterchief economist at Freddie Mac, said in a statement.
“Many prospective homebuyers are choosing to wait and see where the housing market will end up, further pushing down demand and home prices,” Khater added.
Meanwhile, celebrities in the US are busy making big real estate moves. Here are some of the celebrities who are listing their properties at huge prices.
Read also: How it may have become easier to invest in property
The host of “Celebrity IOU: Joyride” Ant Anstead reportedly planning to sell his Laguna Beach Cottage for 3.3 million dollars. Anstead bought the house for $2.8 million in 2021.
The cabin is spread over a 1,968 square meter area and was built in 1929. The home sits on a 6,925 square meter lot above Woods Cove. The house has views of Catalina Island and the coast.
“Harry Potter” star Daniel Radcliffe has recently sold his Manhattan apartment for $5.3 million.
Radcliffe bought it for $4.9 million in 2008, and the apartment is spread over 2,445 square meters. The building amenities of Radcliffe’s former home include a doorman, a concierge, a gym, on-site parking, bike storage and a children’s playroom.
Hollywood star Ben Affleck recently sold her 13,500-square-foot home for $30 million to an undisclosed buyer. The property has seven bedrooms, nine bathrooms, a gym, a screening room and a spa.
Affleck bought the house for $19.2 million back in 2018. Affleck has moved into his new home with his wife, Jennifer Lopezand five children.
TV series “Dallas” star Patrick Duffy plans to sell his mansion on the Rogue River outside of Medford, OR. The actor is asking $14 million for his 383-acre property.
There are four bedrooms and four bathrooms in the 3,010 square meter house. Duffy’s estate includes 100 hectares of irrigated land and a 1 acre private lake. The property also has a spa cabin, wine cave, pool house, large garden and two guesthouses.
Actress Sandra Bullock plans to sell her property for $6 million. The estate consists of three parcels of land in Valley Center, California, about 40 miles northeast of San Diego, spread over a 91-acre site.
She bought the plot in 2007 for an unknown amount. The property features four-bedroom suites along with avocado and citrus groves. The main home is a 6,000 square meter area.
Politician Mitt Romney recently sold his Utah cabin for $11.5 million. The mountain property is located in Deer Valley in Park City. Romney bought the property in 2013 for more than $9 million.
The property is spread over 8,700 square meters and consists of six bedrooms and 7.5 bathrooms.
Are you planning to invest in real estate for a passive income? Here’s how you can invest in a rental property for as little as $100.
Photo: Courtesy of Gage Skidmore on flickr
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