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akins realty co _________________________________________________ Rates Hit All Time Low, Causing Quick Home Sales and Rentals in Major CitiesDallas Texas –The average 30-year fixed mortgage rate fell to 5.42% this month, the lowest level seen all year, igniting a fierce wave of competition across overlooked Midwest housing markets. Cities like Dallas, Indianapolis, and Des Moines reported a 34% jump in pending sales compared to April. Bidding wars erupted on homes with many properties selling within 24 hours. "Buyers rushed in after sitting on the sidelines for months. The rate drop, driven by cooling inflation signals, has further widened the gap between affordable inland markets and still-struggling coastal cities like San Francisco and Seattle, where prices continue to slide. |
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