According to a recent survey by national property broker Redfin, almost 58% of U.S. homeowners feel they probably couldn’t afford to repurchase their current homes at today’s prices and mortgage rates. This insight comes from a survey carried out in February 2024 by Qualtrics, involving approximately 3,000 U.S. residents.
The survey indicates that a significant majority of respondents, 59%, have owned their homes for over a decade, and an additional 21% for at least five years. During this period, these homeowners have witnessed a dramatic increase in local housing prices, with the median U.S. home-sale price doubling over the past decade and rising nearly 50% in the past five years alone.
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