Why It’s So Hard to Buy or Sell a House Right Now #house #business #shorts

Housing Market Stalemate - Unaffordability and uncertainty have combined to slow down US home sales [6] - The market is in a stalemate, and the report explores what could get people moving again [1][6] New Construction's Role - New construction is playing a much bigger role due to the scarcity of existing homes for sale [1] - Many people are turning to new construction [1] - Single-family homes tend to be the most expensive new construction option [2] - New construction of dense housing, like missing middle housing, can make entry more viable for first-time buyers [3] Solutions and Challenges - Some cities and states are loosening zoning restrictions to encourage construction of missing middle housing [3] - The Senate Banking Committee advanced legislation to spur more housing development and make it easier to access loans [4] - High interest rates make it expensive to build new housing [5] - Lower mortgage rates could help development [5]