Posted by on April 22, 2023 12:53 pm
Categories: Breaking News Epoch Times News

Housing Payments Rise Across US Despite Fall in Home Prices

Even though U.S. home prices have fallen by their biggest margin in over ten years, monthly housing payments have hit a record high, according to real estate brokerage Redfin.
Median home-sale price fell 2.6 percent from a year back during the four weeks ending April 16, Redfin said in a press release Thursday—the biggest decline in more than a decade and the eighth straight four-week drop. Home prices fell in 30 of the 50 most populous U.S. metros. Despite the price drop, the typical homebuyer’s monthly housing payment hit an “all-time high” of $2,538 as average weekly mortgage rates rose to 6.39 percent. This is up $265, or 12 percent, from 2022….

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