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The high interest rate environment is causing repeat buyers to pull back from the market, creating ample space for entry borrowers to purchase a home.
October 14 -
Decline was largely driven by a large dip in cash-out refinance locks.
October 11 -
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Average incomes for this age group increased by 24% since 2012, but housing prices jumped 86%.
October 25 -
However, with mortgage rates down and household income increasing, consumers have 129% more buying power today than they did 16 years ago, according to First American.
August 30 -
Markets react calmly to inflationary worries, but short supply and rising home prices loom as a greater concern.
July 1 -
While purchasing power grew for the 16th straight month in April, surging property values and increased mortgage rate forecasts will keep driving down affordability, according to First American.
June 28 -
While purchasing power rose due to low rates and increasing income, “homebodies” suppressed inventory, according to First American.
June 22 -
Estimated activity exceeded projections as consumer purchasing power rose, although inventory continued at a record nadir and otherwise held back potential home sales, according to First American.
May 20 -
As consumers search for homebuying advantages, local lenders discuss the 12 metro areas where it’s more affordable to purchase a property rather than rent a comparable house, according to Realtor.com data.
April 30