US residents living in Washington, DC drown in the country's highest mortgage debt

US residents living in Washington, DC drown in the country's highest mortgage debt with more than $ 400,000 in loans per borrower.

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Hawaii, California, the state of Washington and Colorado are also struggling with hundreds of thousands of mortgage debt.

Last month US home sales fell by 1.7 percent, with rising prices and a scarce supply that left many Americans out of ownership.

The National Association of Realtors said last week that houses were sold in June at a seasonally adjusted annual rate of 5.27 million units.

US residents living in Washington, DC, (file image) drowning in the country's highest level of mortgage debt with over $ 400,000 in loans per borrower

US residents living in Washington, DC, (file image) drowning in the country's highest level of mortgage debt with over $ 400,000 in loans per borrower

Turnover has fallen by 2.2 percent in the last 12 months, despite such positive trends as a robust labor market and falling mortgage rates.

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But house prices have risen faster than incomes in the last seven years.

Because of this persistent gap, many tenants could not afford ownership and existing owners could not upgrade to more expensive homes.

There was also a shortage of supply: the sales lists remained stable at 1.93 million units last year.

& # 39; Sales have struggled to achieve meaningful, consistent growth this year despite friendly market conditions, & # 39; said Matthew Speakman, an economist at the Zillow real estate company.

& # 39; Lean inventory levels, especially in the entry segment, and still rising prices continue to limit the selection of available homes for more budget-conscious buyers. & # 39;

The median selling price climbed 4.3 percent higher than a year ago to $ 285,700, which exceeded wage growth by an average of 3 percent.

Sales in the south and west declined in June. But the increase in buying homes in the Northeast and Midwest was insufficient to offset the decline.

Meanwhile, borrowers in Colorado (file image) have more than $ 250,000 in debt. The average selling price of Colorado is $ 367,440
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Meanwhile, borrowers in Colorado (file image) have more than $ 250,000 in debt. The average selling price of Colorado is $ 367,440

Meanwhile, borrowers in Colorado (file image) have more than $ 250,000 in debt. The average selling price of Colorado is $ 367,440

There is a permanent lack of houses on the market priced below $ 250,000, a level that is close to the average national price.

But in the last year in more expensive Northeast and West markets, home sales with a price of more than $ 750,000 have fallen – a sign that home value is too high relative to people's income.

The proportion of starters rose to 35 percent in June, compared to 32 percent in May. But according to Census Bureau data, home ownership rates for Americans between 25 and 34 are lower than in previous generations.

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Washington, DC

Residents in the US capital have the highest mortgage debt at more than $ 400,000 per borrower.

The average home value in DC is $ 563,200, according to Zillow.

California

California was the second highest with borrowers who drowned more than $ 360,000.

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The median selling price is $ 492,080.

Hawaii

An average borrower in Hawaii has more than $ 340,000 in mortgage debt.

Zillow reports that the median price of homes in Hawaii is listed at $ 632,500.

Washington state

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Washington residents have approximately $ 260.00 in mortgage debt.

The median selling price of the state is $ 365,240.

Colorado

Meanwhile, borrowers in Colorado have more than $ 250,000 in debt.

The average selling price of Colorado is $ 367,440.

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