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Real Estate Market Update • January 30, 2024

Why It’s More Affordable To Buy a Home This Year

by Robin Milton

Home affordability depends on three factors: mortgage rates, home prices, and wages.
The good news is affordability is getting better if you want to buy a home.

 

  • Mortgage Rates Are Down from Their Recent Peak
  • Home Prices Are Expected To Rise at a Slower Pace
  • Wages Are Increasing Faster Than Usual

 

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