The housing market faces a ‘chicken and egg’ problem that could mean home prices start to fall
The US housing market faces a chicken and egg problem, according to Realtor.com.
High mortgage rates are deterring buyers and sellers who don’t want to swap out the low rates they previously locked.
New home listings dropped 22.7% in May as many sellers and buyers stayed put, but home prices could start falling.
Realtor.com pointed out the “chicken and egg” problem plaguing the housing market right now: High mortgage rates are keeping both home buyers and sellers sidelined, with the former reluctant to spend and the latter unwilling to part ways from the lower rates


