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The WRA March 2023 Housing Report
Rising Prices and Higher Mortgage Rates Reduce Affordability
Overall, first quarter sales fell 27.4% relative to the first three months of 2022, and median prices rose 9.4% to $262,500 over that same period.
Inventory levels for March are historically low, with just 13,342 units for sale
High interest rates and low inventory continue to be the primary reasons demand is so weak.
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