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home sales struggle amid high prices and mortgage rates resembling past recession levels

Wells Fargo reports that home sales in January reached 4.7 million, only slightly above post-Great Recession levels, primarily due to high home prices and mortgage rates. The ongoing affordability crisis, exacerbated by a significant shortfall of available homes, is expected to keep sales weak for the foreseeable future. Despite some easing in mortgage rates, the average monthly payment has more than doubled in five years, leading to a housing market that resembles a recession despite a booming economy.
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United States Dollar Wells Fargo & Company JPMorgan Chase & Co. Redfin Corp Moody's Corporation USA Glenn Kelman Charlie Dougherty Matt Walsh Show more
Finance & Economy, Market Report
18:06 24.03.2025
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