Monthly home payments hit new records last month reaching an all-time high of $2,747, an 11% increase from last year.
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Decreasing mortgage rates mean buyers and sellers are returning to the market
Homebuyers can now afford $400,000 homes with $2,500 monthly budgets for the first time in four months, according to a new report from Redfin.
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Home sales, listings take biggest hit on record
The only other time the market saw such change was at the beginning of the pandemic.
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