Mortgage rates have not changed over several months despite the Federal Reserve's interest cuts, leading to significant affordability issues as home prices continue to climb, exemplified by January's 4.8% annual median sale price increase to $396,900. While the inventory of unsold homes saw a 3.5% rise month-over-month, it still highlights the need for more supply and lower rates for buyers. Though homes are staying on the market longer, certain regions experienced sales declines, indicating disparate market recovery across the country.
Mortgage rates have remained unchanged amid interest rate cuts, making housing affordability a major issue as home prices rise and inventory levels change.
The housing market's challenges include rising home prices, elevated mortgage rates, and a slight increase in inventory that only moderately helps qualified buyers.
Collection
[
|
...
]