Reported 5 months ago
The article discusses the recent decline in existing home sales in the housing market in April, with a 1.9% drop compared to the expected 0.8% decrease. Analyst Logan Mohtashami highlights the impact of increasing inventory levels, suggesting that the positive aspect for the market will be the rise in inventory compared to 2023. However, challenges persist due to high mortgage rates and housing prices, hindering sales growth. Mohtashami emphasizes the need for mortgage rates to decrease towards 6% to stimulate housing market growth.
Source: YAHOO