Reported about 19 hours ago
The U.S. housing market remains sluggish despite peak buying season, influenced by high mortgage rates, elevated prices, and economic uncertainty. While there is increased inventory, many buyers are hesitant due to high costs, resulting in low home sales. The 'lock-in effect' keeps homeowners with low mortgage rates from selling, leading to a constrained supply. With home price growth outpacing wage increases and buying power significantly reduced, renting has become a more viable option for many prospective buyers.
Source: YAHOO