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Home prices have dropped since June. But is now a good time to buy?

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Two people viewing the interior of a house with a realtor.

There’s a reason so many buyers struggled to make a home purchase in 2022. Not only were home values still sky-high, but mortgage rates rose sharply last year, adding another complication on the affordability front.

These days, mortgage rates are still high, though they’ve come down a bit compared to where they sat during the latter part of 2022. And home values have come down, too. Data firm Black Knight reports that home values have fallen 5.3% since June. And based on that information alone, you may be thinking it’s time to go out and buy a home.

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