Why Buyers and Sellers Are Stuck

Higher mortgage rates are slowing demand, making monthly payments harder to justify and pushing more buyers to wait.
Pending sales are losing momentum, showing that fewer buyers are moving from house hunting to actually making offers.
Homeowners with cheaper existing mortgages aren’t eager to move, keeping many potential listings off the market.
The result? A housing stalemate: buyers want better payments, sellers don’t want to give up cheap loans, and transactions remain unusually slow.