In most markets, a monthly mortgage payment is more affordable than a monthly rent payment, but the most difficult aspect of home-buying is coming up with enough money for the down payment.”
The housing market hit several important milestones in 2016, with distressed sales at a nine-year low and home prices at a 10-year high, just barely below the pre-recession peak in 2006.
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Homebuyers traditionally face competition at the height of real estate season. Now, with market indicators reaching record post-recession milestones, competition is stiffer than ever.
