Housing Market Update: Disappointing Year Continues with Falling Mortgage Rates and Accelerated Home Price Growth.

The US housing market is still in a slump, with few homes available for sale and prices remaining high. Buyers are unable to overpay, and sellers are unwilling to lower their prices. Interest rates are well above 6%, making it expensive to buy a home and risky to sell one. Renters are also facing historically high rents. The market may improve somewhat during the second quarter of the year, but there is still a lot of economic uncertainty.