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Home prices and rental rates increased over the last year. Chief economist, Lawrence Yun, at the National Association of Realtors said, “home sales are on a sustained uptrend, Mortgage interest rates are hovering near record lows and unsold inventory is at the lowest level in 12 years, our population has been growing faster than overall housing stock, so supply and demand dynamics are very much at play.” Single family home prices jumped 10% from last year, and existing home sales rose 5% from last quarter. More here
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