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U.S. Real Estate Market Shows Signs of Thawing as Mortgage Rates Dip
U.S. Real Estate Market Shows Signs of Thawing as Mortgage Rates Dip
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BTCCSquare news:
The U.S. housing market is showing tentative signs of recovery after years of stagnation. Pending home sales ROSE 0.7% annually in July, with Redfin reporting a 1.6% year-over-year increase in August contracts. Buyers are returning as mortgage rates retreat from their peaks, settling at 6.56% - the lowest since October 2024.
Price growth moderation and expanding inventory are creating rare opportunities in a market long defined by scarcity. "House hunters are feeling more confident," observes Ali Mafi, a Redfin Premier agent in San Francisco. The shift comes as mortgage applications begin trending upward, suggesting renewed activity in the sector.
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