The U.S. housing market just wrapped its slowest spring selling season since 2012, with fewer contracts signed from April to June than any year in 13 years. This isn’t just about high prices; economic uncertainty is playing a role too.
From fears of AI-related job cuts to recent tariff announcements, buyer confidence has been shaken, and even price reductions aren’t enough to bring them back. Despite some early positive signals like lower mortgage rates and stabilizing prices, broader economic shocks have shifted the landscape.
Interestingly, sellers are responding by pulling listings, which is limiting inventory and preventing a deeper price collapse. The affordability crisis, with borrowing costs at 1980s levels, continues to be a major hurdle.
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