The continuous rise in American housing prices and the continuous expansion of the market for houses over one million yuan have reached a historic high. The latest data shows that typical house prices in 550 cities have exceeded one million yuan, an increase of 59 cities compared to a year ago, indicating that more and more areas have become representatives of high housing prices. Among them, California is the most prominent, with typical house prices in 210 cities exceeding one million yuan, while areas such as New York and New Jersey also show significant growth trends.

Data from Freddie Mac indicates that high-interest-rate mortgages have largely driven the rise in housing prices. According to the latest data, the 30-year fixed-rate mortgage rate has reached 6.79%, directly leading to the continuous rise in housing prices. In addition, the Case-Shiller Home Price Index also reflects this trend, showing that the rate of increase in housing prices has reached a historic high.

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Anushna Prakash, an economic analyst at Zillow, said that the current housing market is tense, with scarce housing supply and intense competition, and this competitive pressure is pushing up housing prices across the United States. However, although high-interest-rate mortgages may continue to exist, there are also signs that housing affordability may improve. Data from the National Association of Realtors (NAR) shows that existing home sales surged by 9.5% in February, which may mean that more housing inventory is appearing on the market, thereby alleviating some supply-demand pressure.

At the same time, census data shows that housing completions in February increased to 1.7 million units, a 15.6% increase from the same period last year, which also means that there may be more housing supply entering the market in the future. However, whether these new housing supplies can meet market demand and whether they will affect housing prices remain to be seen.