Housing situation and real estate market in the USA

The housing situation and real estate market in the USA in 2024 are characterized by instability. Prices have risen sharply due to the pandemic, and high mortgage interest rates and a shortage of supply are making it difficult to buy a home. Nevertheless, there are opportunities for investors as demand remains high and high returns are possible in the long term.

There are many attractive cities and residential areas for emigrants who want to move to the USA. Metropolitan cities like New York City, Los Angeles and Chicago are known for their diversity and economic opportunities. But smaller cities such as Austin, Texas or Charlotte, North Carolina, offer a high quality of life and a comparatively lower cost of living.

The real estate market in the USA is characterized by considerable price fluctuations. Prices are particularly high in large metropolitan areas such as San Francisco and New York City, while more rural areas and smaller towns often offer more affordable options. According to a Harvard study, 50 percent of tenants can now barely afford the high cost of housing. Rents are stagnating at record levels, but show no signs of falling.

For example, many residents have experienced a significant increase in their rental costs after moving within the state of Florida. In some regions, rents are rising faster than wages, leading to financial strain. Low-income families are particularly affected, as rents have risen by around 15 to 18 percent annually since 2019. In some cases, this has even led to homelessness among the middle class.

Finding accommodation in the USA can be challenging, especially in popular cities. It is advisable to start your search early and use various platforms. Many tenants also successfully negotiate discounts to stay in their apartments. In some cases, negotiating with the landlord can lead to a reduction in rent, which is beneficial in times of rising housing costs.

However, a historic court ruling could make buying a home more difficult by prohibiting estate agents from charging high commissions. This could deter young first-time buyers in particular and reduce the motivation of estate agents, which could jeopardize the market upturn.

The US real estate market in 2024 offers numerous opportunities, but also considerable risks. Investors should carefully weigh up the risks and be prepared for possible price changes and shifts in demand. Professional risk assessment is essential in order to avoid potential losses.

A recovery in the real estate market appears to be on the horizon, supported by lower interest rates and increased buying interest. Nevertheless, the market remains uncertain, particularly with regard to a possible recession and the impact of political decisions such as the 2024 presidential election.

KOCH Umzugslogistik is at your side during your move to the USA and supports you in all matters relating to the housing situation and the real estate market. Contact us for professional advice and customized solutions.