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Meanwhile, the stock of unsold current homes rose 2% from December to January, totaling around 1 million on the finish of last month, slightly increasing buyers’ options. This year’s housing market is off to a strong start as sales of present houses skilled the most important month-over-month jump in a year. The tight housing market has minimize off many millennials from purchasing houses, and excessive rates of interest have not helped. Cutting rates of interest might spark a homebuying frenzy that combines with rising housing costs to ship home prices to report ranges, Bill Pulte stated.
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