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Road to homeownership gets rockier this spring as rates rise

Road to homeownership gets rockier this spring as rates rise

"We've been talking about low inventory for several years, and yet inventory continues to turn lower," said Danielle Hale, chief economist for Realtor.com. "That puts us in a position where for home shoppers this spring it's going to be the most competitive market we've seen in the last few years."

Chad Zolman got a taste of that while looking for a home in Denver. The account manager made 11 offers since his search began in September, but lost out to rivals offering more money. As mortgage rates started rising, so did Zolman's anxiety about being able to afford to buy.

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