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If you’ve been sitting on the sidelines waiting for the right moment to buy a home, this might be your sign. Affordability is finally shifting in buyers’ favor—and it’s putting real money back in your pocket.
Monthly Payments Are Finally Dropping
Here’s the good news: according to Redfin, the average monthly mortgage payment on a median-priced home is now $283 lower than it was just a few months ago. That’s nearly $3,400 a year in savings—enough to make a major difference in your budget or even bump you up to a higher price range. Imagine getting that dream kitchen or extra bedroom you thought was out of reach just a few months ago.
What’s Behind the Change?
Two big shifts are working in your favor right now—mortgage rates are easing and home price growth is slowing down. That combo means your money goes further, and your monthly payment feels lighter. Andy Walden from ICE Mortgage Technology sums it up perfectly: “Affordability is at a 2.5-year high.” Whether you’re buying your first home or upsizing to your next, that’s a rare window of opportunity worth exploring.
Why This Matters for You
Even small shifts in affordability can open big doors. A buyer with a $3,000 monthly budget can now afford a $468,000 home—about $22,000 more than earlier this year. That extra wiggle room could be what gets you into a neighborhood you love or closer to the schools and amenities you’ve been eyeing.
Bottom Line
Affordability is improving, rates are softening, and prices are stabilizing. If you’ve been waiting for your moment—this might be it. Let’s crunch your numbers together and see what’s now possible.