Navigating the Challenges of the Housing Market

Homeowners are choosing to stay put due to the low mortgage rates they currently have, which act as golden handcuffs. This has resulted in a decrease in new listings, down 22.9% YoY, and a hit to the demand side of the housing market. Real estate agents and mortgage brokers are feeling the pain as transaction volume stays suppressed. Active listings are up 22.1% YoY but down 50.5% since May 2019, indicating a competitive market.