Real Estate

What’s happening with home prices as mortgage rates fall

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An aerial view from a drone shows homes in a neighborhood on January 26, 2021 in Miramar, Florida. According to two separate indices existing home prices rose to the highest level in 6 years.

Joe Raedle | Getty Images

The U.S. housing market cooled off pretty dramatically last year, after mortgage rates more than doubled from historic lows. Home prices, however, have been stickier.

Prices began falling last June, but are still higher than they were a year ago. Now, as demand appears to be coming back into the market, due to a slight drop in mortgage rates, prices are pushing back.

In December, the latest read, U.S. home prices were 6.9% higher year over year, according to CoreLogic. That…



Source cnbc.com

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