Key Takeaways
- Transactions have slowed more than prices.
- Inventory remains uneven by region.
- Rates influence mobility as much as affordability.
The question exists because home sales have slowed sharply while prices have proven more resilient.
Current data shows fewer listings and lower turnover, driven largely by rate lock-in. Many homeowners are reluctant to move and give up lower mortgages.
What remains uncertain is how long this standoff lasts. A shift in rates or life events could gradually loosen supply.
Watching inventory trends and new construction will offer clearer signals in the months ahead.