Reported 1 day ago
A recent Redfin report highlights a significant decline in homebuyer confidence, as high home prices and rising mortgage rates deter potential buyers. Although housing inventory is at a five-year high, pending sales in the U.S. have dropped by 3.4% compared to last year, marking record low activity for this period. Economic uncertainties, including fears of tariffs and a potential recession, are prompting many to start but subsequently abandon their home searches, while those who do proceed are opting for more affordable options.
Source: YAHOO