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Renting vs. Buying: Examining the Cost of Homeownership

Potential first-time homebuyers looking to shift from renting to homeownership in 2023 are facing mortgage rates that are nearly 4 percentage points higher than the low point in Q4 2020, limiting their purchasing power. In a new analysis, First American Economist Ksenia Potapov revealed the costs of renting against the costs of owning a home.

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Mortgage Rates Soar to 22-Year High

While economic uncertainties remain a struggle for many Americans, rate hikes continued to slow overall housing market activity in August as mortgage rates reached their highest in over two decades, according to HouseCanary's Market Pulse report.

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Nationwide Home Prices Up 5% YoY

U.S. home prices experienced the biggest increase in 10 months due in part to a significant lack of inventory, increasing 5% year-over-year. Meanwhile, homes in the popular Miami metro surged 17% from last year.

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U.S. Home Mortgage Lending Recovers in Q2

A new mortgage report from ATTOM revealed U.S. lenders issued approximately $494 billion worth of residential mortgages in Q2 of 2023, while total activity rose after eight straight quarterly declines to 21%.

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Pending Home Sales Continue to Improve

"The small gain in contract signings shows the potential for further increases in light of the fact that many people have lost out on multiple home buying offers," said NAR Chief Economist Lawrence Yun.

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Southern Metros Dominate List of Best Places to Buy a Home

Five Texas metros topped the top 10 list of best places to purchase a home, according to a new study from WalletHub, which examined the strongest local real-estate markets throughout the U.S., as the housing market remains skewed toward home sellers rather than buyers.

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