Home sales are struggling due to high prices and mortgage rates, with modest growth predicted.

From Yahoo Finance: 2025-03-24 13:06:00

Home sales are barely above post-housing crash levels due to high prices and mortgage rates. In January, total home sales were 4.7 million, modestly above the weak rate post-Great Recession. The combination of high prices and mortgage rates hurts demand, with mortgage rates at 6.67%, up from 3% in 2020. Wells Fargo predicts only modest improvement in home sales over the next few years. Moody’s forecasts little improvement this year before a modest increase next year. Affordability remains a major issue, with the average monthly payment doubling in the last five years. Unemployment isn’t skyrocketing, but housing has fallen into a recession.



Read more at Yahoo Finance: Wells Fargo says home sales aren’t far off from levels seen in the wake of the Great Recession