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A new Redfin study found that the new norm hit $1.25 million in August
About 1 in 5 mortgages have a 6% rate or higher
Despite rate dip, Redfin hasn't seen any measurable bump in sales
Rate falls about 3.1% YoY in largest drop since 3Q 2021, report finds
Lower rates and stable prices could restore balance by 2030, but affordability gains will vary widely
High costs, softening returns drive real estate investors to purchase fewest houses since 2020 this past spring
