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The Hottest U.S. Housing Markets
Real Estate writes:
“These blazing markets blend big-city amenities with lower housing costs than megacities along the West and East coasts.With inflation through February slowly heading in the right direction and 30-year fixed mortgage rates recently settling in at about 6.7%, hopeful homebuyers are slowly edging back into the housing market. But is it enough to unlock a semifrozen housing market?
The good news is that according to Freddie Mac, applications for mortgage purchase loans were up 5% year-over-year through mid-March. At the same time, with stock markets in flux and consumer sentiment dipping sharply in recent weeks, if concerns about rebounding inflation and job security continue to build, that could prompt some buyers to wait for more certainty.
Still, even if consumers hold back on high-ticket items such as new cars, trips and electronics, the stability of owning one’s own home is a powerful motivator to take the plunge into the housing market – especially if it’s relatively affordable, such as in the hottest housing market for January.”
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