Real Estate Market Update: Mixed Signals for Buyers and Sellers.

The US housing market is still struggling to recover from the pandemic, with few homes hitting the market and prices remaining high. Buyers are unable to overpay, and sellers are unwilling to lower their prices, resulting in a standoff. 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, with few options for affordable housing. The market may improve somewhat during the second quarter of the year, but economic uncertainty and a lack of inventory make it hard to predict what will happen next.