Buy Now Before Homes Become Unaffordable
According to Redfin, it might be a good idea for first-time home buyers to pull the trigger now on a home purchase, before prices become even less affordable. With the recent home interest rate reductions, homes are more affordable now, and as more buyers enter the market, prices are likely to go up. According to Redfin, “Buyers need to earn $77,000 to afford the typical U.S. starter home, down 0.4% year over year…the first annual decline since 2020.”
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