Housing inventory is sitting at an all-time low, fueling steady demand for homes.
House hunters have enjoyed near-record low mortgage rates as they look to trade up or become first-time homebuyers.
The fixed rate for a 30-year mortgage has ticked up to 3.56% from 2.77% a year ago but remains attractive. The average loan size of a mortgage hit a new record last week of $418,500, according to the Mortgage Bankers Association.
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