Navigating the Post-Pandemic Housing Market: Rising Prices and Unlikely Crashes

The post-pandemic housing market is expected to be even tougher for buyers, with rising prices and limited inventory. The median existing-home price reached the second-highest level of all time in June, and 33% of homes on the market had multiple offers. Historically low inventory levels, down 14% from last year, are contributing to the price surge despite elevated mortgage rates. The limited supply is partly due to homeowners being locked into sub-5% mortgage interest rates, discouraging them from selling and buying at higher rates. Home sales slowed down in June, but experts believe that pent-up demand will increase if mortgage rates and inventory improve.