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Housing Market Stalls Amid High Rates | Real Estate News
Mortgage rates stuck at 7% are crushing buyer demand, sending home sales, applications, and viewings into a steep decline—pending sales down nearly 5% year-over-year. Sellers now face a tough choice: slash prices or pull listings, as inventory climbs and buyer power grows. Economists warn this “fall stall” is arriving earlier than expected, with refinances and purchases both falling, contracts far below pre-pandemic levels. Prices still tick up, but activity suggests a sluggish winter ahead—unless rates drop, which could reignite demand and turn the market around. Listen in comfort:Get a…
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