US Home Sales and Prices Show Signs of Recovery in Summer

The U.S. housing market is showing signs of recovery with increased inventory and a slight rise in home sales, despite high mortgage rates and prices. Mortgage rates have recently decreased slightly, encouraging refinancing, and more homes are available for sale, giving buyers more options. However, high prices and rates continue to limit affordability, and new home construction faces challenges due to affordability issues, labor shortages, and regulatory costs.