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All-cash buyers buoy luxury housing market while mortgage rates sink everyone else

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While high mortgage rates are keeping everyday Americans out of the housing market, wealthy buyers with means to buy multimillion-dollar homes in cash are doing just fine.

<p>SALT LAKE CITY — While high mortgage rates are keeping everyday working Americans out of the <a href="https://www.ksl.

1 million in the third quarter, while the median price of non-luxury homes climbed only 3.3% to $340,000. Both hit their highest level of any third quarter on record.

 

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