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The amount of money a homebuyer puts down to purchase a home hit a historic high at the end of 2023, but that sum is finally falling. A new report from Realtor.com® shows that the median down payment homebuyers laid on the closing table in the first three months of 2024 was an average of 13.6%—which translates […]

Down Payments Fall From Historical Peak

Market Update

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Home prices continued their upward trend in February, defying high mortgage rates and low inventory of homes for sale. The S&P CoreLogic Case-Shiller national housing index rose 6.4% from February a year ago and up from the 6% annual increase registered in January.  San Diego led the way with an 11.4% annual increase, while Chicago and […]

Home Prices Continue Their Rise, Defying High Mortgage Rates

Market Update

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A new report has revealed just how reluctant homeowners are to sell due to the attractiveness of their current mortgage rates.  The April ICE Mortgage Monitor report found that, on average, a homeowner’s payment would more than double if they traded up to a home just 25% more expensive. “After American mortgage holders secured some […]

Homeowners still reluctant to sell due to attractive low rates, keeping inventory tight and prices high

Market Update