Lower rates, slower demand shifts power to homebuyers

Homebuying power is at its highest level in nearly four years, as lower mortgage rates and slowed demand has improved affordability, a new industry report found.

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A median-income household in the United States could comfortably afford a $331,483 home with a 20% down payment in January, $30,000 more than a year ago, according to Zillow‘s latest analysis. The typical…