home supply up 20 percent, will prices drop

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Where will home prices be in the next few months? 

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We have seen 2 trends happen that could lower the home price appreciation. 

1. Mortgage interest rates have been going up for 3 months, from 2% to 3.25%. As rates go up, your monthly payment less affordable and you can spend less for a home. 

2. Inventory, the supply of homes goes up, up 19.8% this month from last month.

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