Reported 11 months ago
Mortgage rates have declined for four straight months in a sluggish housing market, reaching their lowest since April at 6.86%. Homeowners are holding onto their properties, while potential buyers face affordability challenges, impacting pending home sales. A significant portion of available homes are considered 'stale,' with 60% of listings inactive according to Redfin. Despite continued demand, buyers are not satisfied with the current inventory, leading to price reductions in certain regions.
Source: YAHOO