US home prices increased more than previously expected in Q1 2023.
The increase in home prices adds to the challenges faced by buyers in the US, including inventory shortages and higher mortgage rates.Higher mortgage rates are contributing to the shortage of inventory, as potential move-up sellers are reluctant to sell due to their current low mortgage rates.
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Compass is a real estate broker licensed by the State of California and abides by Equal Housing Opportunity laws. License Number [01527365]. All material presented herein is intended for informational purposes only. Information is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale or withdrawal without notice. No statement is made as to accuracy of any description. All measurements and square footages are approximate. This is not intended to solicit property already listed. Nothing herein shall be construed as legal, accounting or other professional advice outside the realm of real estate brokerage.
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