Photo by Breno Assis on Unsplash
Written by Elena Cox | Stacker
Click here to read the full article
It is a tough time to be in the market for a new house.
The average 30-year fixed rate mortgage rose above 7% at the start of November 2022, the highest level in more than a decade, as the Federal Reserve raised its benchmark rates to combat inflation. Rates have dipped slightly since, but remain at historic highs. Even a half of a percentage point change can significantly affect the monthly payments required for a mortgage.
Stacker analyzed data from Redfin to see which metros had the most homes sell under the asking price. Metros include the main city as well as its surrounding towns and suburbs. Metros with fewer than 300 home sales in December 2023 do not appear on this list.
