“Tons of homeowners scored an incredible deal during the pandemic: a 3% mortgage rate for the remainder of their 30-year loan … this means buyers who are in the market now are duking it out for a very small pool of homes, preventing home values from plunging,” said Redfin Economics Research Lead Chen Zhao.
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What Are All U.S. Homes Worth?
The total value of all the housing stock across the country increased in 2017 to a value 1.5 times greater than the gross domestic product of the U.S., according to a new report.
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