Home buying is expected to keep picking up in 2020, with mortgage rates around a full percentage point lower than they were this time last year.
Prices are getting a boost in many markets, too, with housing inventory low across the country. To get a sense of how much you can expect to pay if you are in the market for a home this year, Zillow provided CNBC Make It with figures for what the average home is forecasted to cost in the U.S. overall and in 11 markets across the country in 2020.
The prices reflect the typical monthly mortgage payment for buyers in April 2020, based on a 3.6%, 30-year fixed mortgage rate. The 10% down payments include a typical PMI payment. Your actual rates and mortgage payments will, of course, vary depending on your individual circumstances.
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