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Housing Market Stalls, Prices Soar | US News
Housing sales dipped 2.4% last month, but home prices hit a record high of $446,000—making it harder for buyers to enter the market. Sales have stalled near 4 million annually, far below historical norms, as rising mortgage rates and affordability issues push first-time buyers to just 33% of sales. Inventory remains tight at 1.56 million homes, up slightly from last year but still far below pre-pandemic levels. With fewer homes selling and prices climbing, sellers hold the upper hand—and experts warn that without a surge in available homes, the market will stay tough for buyers. Listen in…
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