Price growth was partially offset by lower mortgage costs, as 30-year fixed rates hung between 6.6% and 6.94% in the first quarter.
That's a small win for buyers, considering that rates peaked at 7.8% late last year and were above 7% until mid-December.
At the first sight of lower mortgage rates, that widespread price appreciation has returned — much to the chagrin of buyers who thought they were going to catch a break.
Conversely, prices fell outright only in 15 cities, versus 32 in the fourth quarter of 2023.
15 cities where home prices are downBelow are those 15 US real-estate markets where single-family home prices fell from last year.
Persons:
—, Lawrence Yun
Organizations:
Service, National Association of Realtors, Business, NAR
Locations:
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