As the U.S. Federal Reserve continues to raise short-term interest rates in an effort to get inflation under control, it is expected that mortgage rates will follow suit, as they typically do.
Using median list prices for September 2022 as compared with September 2021, buyers this year are paying almost 80 percent more for the same house!
Of course, this is pricing more and more would-be homebuyers out of the housing market.
The good news is that prices have come down slightly in many markets.
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