Homebuyers Navigate Tricky Market Amid Inventory Crisis and Rising Mortgage Rates

The housing market is facing a "tricky" situation with a slowdown in home sales and an inventory crisis, according to Tracy Kasper, president of the National Association of Realtors. First-time homebuyers are struggling to compete due to higher mortgage rates, which have reached the highest level in decades, and a lack of available inventory as current homeowners are reluctant to sell. Real estate insiders are seeking ways to increase inventory, including advocating for government incentives such as tax breaks for sellers.