Two years ago, buyers would have cried about a 6% mortgage rate, according to one agent in Las Vegas.

"Now, they're happy they've dropped down," O'Shay Stein said to Redfin in prepared comments.

That drop means the average cost to buy a home as of the last day in 2023 is down nearly $400 from October's high, putting the median mortgage payment at $2,361, according to a new report from the real estate brokerage.

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