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【CNBC】Home sales slipped unexpectedly in April, despite big gains in supply

  • The median price of an existing home sold in April was $407,600, an increase of 5.7% year over year.
  • Inventory in April rose 9% month to month and was up 16% from the year before, but still just a 3.5-month supply at the current sales pace.
  • First-time buyers made a slight comeback, making up 33% of April sales, up from 29% the year before.

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【CNBC】Sales of newly built homes tank in April, as prices and interest rates rise

  • Sales of newly built homes dropped in April as prices and interest rates rose.
  • The median price of a new home sold in April was $433,500, 4% higher than it was in April 2023.
  • The average rate on the 30-year fixed mortgage at the end of March was in the high 6% range, but then shot up to 7.5% during the April.

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【CNBC】A 20% down payment is ‘definitely not required’ to buy a house, economist says. Here’s how much you need

  • About 77% of future homebuyers have started putting money aside for a down payment, according to a new survey from Clever.com, a housing and real estate research site.
  • Buyers may try to put more money down to avoid mortgage insurance costs and even lessen monthly payments, but 20% is “definitely not required,” said Danielle Hale, chief economist at Realtor.com.

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