The traditional peak season for homebuying and selling is winding down after another underwhelming showing.
For the fourth straight year, high home prices and elevated mortgage rates appear to have sidelined many buyers this spring, even though slightly lower mortgage rates, solid wage growth, and higher inventory of for-sale homes improved their buying power.
Home sales so far this year are up less than 1 percentage point from 2025 levels, according to National ****** ociation of Realtors data, a particularly meager improvement considering that sales last year tied for a three-decade low.
Read more: Want to buy a house before the end of 2026? Follow these crucial steps.
Mortgage rates are likely to blame. A brief dip below 6% in late February was quickly undone when the US attacked Iran and oil prices and inflation spiked. Rates spent most of the spring around 6.5%, a number that, while lower than last year's 6.7% to 6.8% average, discouraged buyers and sellers alike.
For the fourth straight year, high home prices and elevated mortgage rates appear to have sidelined many buyers this spring, even though slightly lower mortgage rates, solid wage growth, and higher inventory of for-sale homes improved their buying power.
Home sales so far this year are up less than 1 percentage point from 2025 levels, according to National ****** ociation of Realtors data, a particularly meager improvement considering that sales last year tied for a three-decade low.
Read more: Want to buy a house before the end of 2026? Follow these crucial steps.
Mortgage rates are likely to blame. A brief dip below 6% in late February was quickly undone when the US attacked Iran and oil prices and inflation spiked. Rates spent most of the spring around 6.5%, a number that, while lower than last year's 6.7% to 6.8% average, discouraged buyers and sellers alike.
2 months ago
