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Traditional

Looking to Save on a New Home? Look Here First

For a clearer glimpse into what first-time homebuyers are experiencing, Poin2 analyzed the number of years it would take for the average renter to save up for the upfront costs required to buy, as well as how many years it would take to cover the full cost of the first year of homeownership in the top-100 metropolitan real estate areas.

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More Exit From San Francisco and New York in Q2

Redfin reports that 25.5% of homebuyers in the second quarter of 2023 looked to move, with San Francisco and the Empire State topping the list as homebuyers continue to depart expensive metros in favor of areas with more affordable housing options.

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Mortgage Rates Push Slightly Upward

Freddie Mac reports mortgage rates still in excess of the 6.75% mark, as home buyers are increasingly turning to new construction to secure a home, and home builders are responding by picking up the rate of construction.

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