Confused about the housing market? Here’s what’s happening now – and what could happen next
The slowdown in the otherwise red-hot housing boom has been stunningly swift.
The U.S. housing market surged during the pandemic as homebound people sought new places to live, boosted by record-low interest rates.
Now, real estate agents who once reported lines of buyers outside open houses and bidding wars on the back deck say homes are sitting longer and sellers are being forced to lower their sights.
That has both potential buyers and sellers wondering where they stand.
“As recession concerns weigh on consumer outlooks, our survey shows uncertainty has...