America's housing market is struggling significantly, with affordability issues at an all-time low. Mortgage rates are expected to remain above 6.5% for the year. The perception of home buying as a good opportunity is near a historical low due to high prices and borrowing costs. Existing home sales projections indicate weak recovery through 2026 and 2027. First-time buyers are particularly affected, with their purchase numbers dropping to half of historical averages.
Mortgage rates are forecast to remain above 6.5% through the year, as the Federal Reserve is not expected to resume rate cuts until 2026.
The share of households saying it's a good time to buy a home is near an all-time low. Record-high home prices, tight supply, and high borrowing costs have combined to make homeownership less attainable.
Existing home sales are projected to be lackluster, reaching an annualized pace of 4.3 million in 2026 and 2027-well below pre-pandemic norms.
First-time buyers are facing the toughest conditions in decades. Last year, just 1.1 million FTB purchases were recorded-half the historical average.
Collection
[
|
...
]