The market sputtered amid high mortgage rates, high prices, and homeowners with lower rates who have no plans to move.
High mortgage rates and low housing inventory have kept homes out of reach for many people in the United States.
U.S. home sales haven't been this low in decades, according to data released Friday by the National Association of Realtors. "You had a perfect storm of everything coming together to undermine affordability,
NAR forecasts mortgage rates to stabilize near 6% in 2025, likely establishing a new normal. Inventory will gradually grow.
The major U.S. index futures are currently pointing to a roughly flat open on Friday, with stocks likely to show a lack of direction
Following the upward move seen over the past several sessions, stocks may show a lack of direction in early trading on Friday. The