Homebuyer budgets this year experienced their slowest growth since June 2020, according to real estate brokerage Redfin, rising by just .3 percent over the three-month period ending April 30.
The calculation is based on the average maximum budget set by Redfin.com users in their online home searches.
"Buyers are qualified to borrow less money because of rising rates, which means they're searching for less expensive homes," Fresno Redfin agent Dennis Rozadilla said in a release
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