"US Housing Market Shows Promise as Mortgage Rates Rise: Expert Analysis and Forecast"

The US housing market is showing signs of improvement for homebuyers as inventory grows and more sellers lower their asking prices. Home construction has increased supply, causing inventory to rise during a season that typically sees declines. Additionally, more homes on the market are taking price cuts, indicating a shift towards a more balanced market. However, high mortgage rates and rising prices continue to impact affordability. Sellers may need to be open to further price reductions as expectations of a Federal Reserve interest rate hike could lead to higher mortgage rates.