Source: Yahoo! News —
As the U.S. housing market says goodbye to low mortgage rates—and home sales slump as a result— here’s the big question: Is it now time to invest in residential real estate?
“For investors like us (it) is an opportunity, actually, to scoop up some new inventory and master plan communities at, I think, prices that will be well-below what we could have seen last year,” Nuveen Real Estate Global CIO Carly Tripp told Yahoo Finance Live (video above).
There’s no denying that the real estate market has been ugly. U.S. home prices were pushed down in August. A measure of prices in 20 large U.S. cities fell 1.3% on a month-over-month basis, according to the S&P CoreLogic Case-Shiller index. In October, homebuilder confidence slipped for the tenth consecutive month, hitting the lowest level since the onset of the pandemic, according to the National Association of Home Builders/Wells Fargo Housing Market Index.
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