The current start-stop cycle facing American homebuyers and sellers shows no sign of relenting, making it difficult to navigate the housing market.
Stable mortgage rates—even if they remain relatively elevated—could be the key to unlocking confidence in the housing market.
Existing-home sales saw a 0.7% decrease and pending home sales dropped 7.7%, indicating a persistent trend of market instability.
All three components of the Housing Market Index fell below the key threshold of 50, reflecting the diminishing builder confidence for new single-family homes.
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