Reported 20 days ago
The U.S. housing market is experiencing a significant slowdown as existing and pending home sales plummet, hitting record low levels. Factors contributing to this stagnation include high mortgage rates, which remain elevated despite slight declines, and rising home prices that have made down payments unaffordable for many. Additionally, uncertainty surrounding the upcoming presidential election and recent changes in real estate commission structures are causing potential buyers to hesitate. As a result, even with falling mortgage rates, the market remains in a state of limbo.
Source: YAHOO