In 2018, the value of residential real estate grew by only 1.2%. This is the lowest growth rate since 2012, the real estate market broker, Redfin Corp, reported. The price of the property averaged $289.8 thousand in December. The reason for the decline in the cost of housing in the US is associated with tight monetary policy of the Federal Reserve System (Fed) and an increase in interest rates. Redfin senior economist sees no threat to the market in the current situation, since “prices cannot grow faster than wages year after year.” At the same time, housing prices in the US fell by 11% in December. This is a record fall from 2016.
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