Home prices in the U.S. have continued to surge despite higher mortgage rates. According to the National Association of Realtors (NAR), the median home price has jumped almost every month in 2022. For example, it reached a record high of $413,800 in June before falling to $389,500 in August.
Last week, the mortgage rate surpassed the 7 percent mark to its highest level since 2002. As per the Freddie Mac report, rates on fixed-rate mortgages rose to 7.08 percent, up from 6.94 percent the previous week and 3.14 percent last year.
“As inflation endures, consumers are seeing higher costs at every turn, causing further declines in consumer confidence this month,” Sam Khater, the chief economist at Freddie Mac, said in a statement.
“Many potential home buyers are choosing to wait and see where the housing market will end up, pushing demand and home prices further downward,” Khater added.
Meanwhile, celebrities in the U.S. are busy making big real estate moves. Here are some of the celebs who are listing their properties at whopping prices.
Also Read: How Investing In Real Estate May Have Just Gotten Easier
The host of “Celebrity IOU: Joyride,” Ant Anstead is reportedly planning to sell his Laguna Beach Cottage for $3.3 million. Anstead bought the home for $2.8 million in 2021.
The cottage is spread across a 1,968-square-foot area and was built in 1929. The home sits on a 6,925-square-foot lot above Woods Cove. The house features views of Catalina Island and the coast.
“Harry Potter” star Daniel Radcliffe has recently sold his Manhattan condo for $5.3 million.
Radcliffe purchased it for $4.9 million in 2008, and the condo is spread across 2,445 square feet. The building amenities of Radcliffe’s former home include a doorkeeper, a concierge, a gym, on-site parking, bike storage, and a children’s playroom.
Hollywood star Ben Affleck recently sold his 13,500 square feet home for $30 million to an unknown buyer. The property has seven bedrooms, nine bathrooms, a gym, a screening room, and a spa.
Affleck bought the home for $19.2 million back in 2018. Affleck has moved to his new home along with his wife, Jennifer Lopez, and five children.
TV series “Dallas” star Patrick Duffy plans to sell his mansion on the Rogue River outside Medford, OR. The actor is asking for $14 million for his 383-acre property.
There are four bedrooms and four baths in the 3,010-square-foot house. Duffy’s property includes 100 acres 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 real estate property for $6 million. The estate is made up of three lots in Valley Center, California, about 40 miles northeast of San Diego, spread across a 91-acre area.
She bought the land in 2007 for an unknown amount. The property has four-bedroom suites along with avocado and citrus groves. The main home is a 6,000-square-foot area.
Politician Mitt Romney recently sold his Utah lodge for $11.5 million. The mountain estate is in Deer Valley in Park City. Romney purchased the property in 2013 for more than $9 million.
Spread across 8,700 square feet, the estate comprises six bedrooms and 7.5 bathrooms.
Planning to invest in properties for a passive income? Here’s how you can invest in a rental home for as little as $100.
Photo: Courtesy of Gage Skidmore on flickr
Don’t miss real-time alerts on your stocks – join Benzinga Pro for free! Try the tool that will help you invest smarter, faster, and better.
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.