U.S. homes, even in the most affordable neighborhoods, continue to climb in price — ultimately deterring more homebuyers from taking the plunge. 

During the pandemic, demand in America’s heated housing market continues to outstrip supply, causing prices to surge. It’s a problem that hasn’t gone away, according to real estate brokerage Redfin. 

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Not only are homeowners desperately seeking out additional space provided by a single-family home but they are looking to capitalize on historically low mortgage rates with the average rate on a 30-year fixed mortgage around 3%. 

“Buyers found that they could purchase with very low-interest rates and lock in these rates for a long term,” Kristin Ehrgott, founding broker of the Live Here Property Group at Compass, New Jersey, told FOX Business. “This means that their budget can stretch higher on…

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