For three years, the U.S. housing market hasn’t been in decline, it’s been at a standstill. High mortgage rates and historically low inventory pushed prospective buyers to the sidelines, waiting, sometimes month after month, for conditions to change, while many existing homeowners stayed put, locked into far lower rates.
As the spring homebuying season begins, the key question is no longer why the market stalled, but whether it can start moving again.
