First-Time Home Buyer Metro Affordability Report – Q4 2022

Econ & Housing

The most appealing features of late 2022’s housing market for buyers — lower prices and increased inventory — were largely caused by their new obstacle: higher mortgage rates.  When mortgage rates hovered around 3%, they played a small role in homebuying budgets, and, if anything, encouraged would-be buyers to make hay. With each fraction of…

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