AP Photo/Charlie Neibergall
- Homebuyers have gained more purchasing power as mortgage rates have edged lower.
- A homebuyer with a $3,000 monthly housing budget can afford a $453,000 home, Redfin said.
- That's due to a steady decline in mortgage rates, with the 30-year fixed rate hovering around 6.7%.
The average US homebuyer can afford more than they could have three months ago, part of a trend that signals the housing market could be healing after a difficult 2023.