Consequential to the rapidly sliding economical conditions in the country, house prices are leaving footprints in the same direction. While the Bank of America announced a noticeable dip in the number of payday loans approved in the month of February so did the approval of mortgages in the following month.
The recent hot news of the house prices hitting a low seems to be ambiguous as the country’s two house price indices have given two different reports based on their target group. The Nationwide indices denote that the average house price has dropped to about $163,000 while the LSL Acadametrics reports that the house prices have been increasing since Jan 2020 and are increasingly becoming expensive.
While Nationwide lists house prices based on its mortgage customers, LSL Acadametrics lists the house prices based on cash sales as about one quarter