Recent data shows America’s residential housing market is in trouble. The <a href="https://www.economist.com/finance-and-economics/2023/03/01/americas-property-market-suggests-recession-is-on-the-way" target="_blank" rel="noopener">Economist</a> believes that the situation in the U.S. housing market suggests that a recession is on the way. Many other economists believe the housing market is already in a <a href="https://thehill.com/business/housing/3764226-economists-a-us-housing-recession-has-already-arrived/" target="_blank" rel="noopener">recession.</a>
According to <a href="https://www.redfin.com/us-housing-market" target="_blank" rel="noopener">Redfin.com</a>, U.S. home prices were down in March “3.3% compared to last year, selling for a median price of $400,698. On average, the number of homes sold was down 19.5% year over year.” The number of homes for sale was up 7.1% year-over-year and the number of newly listed homes was down 22.5%. Houses are staying on the market longer — 44 days for homes sold in March — up 23 days year-over-year, per the same report. Fewer homes are coming on to the market and those that are for sale are remaining so for longer periods of time.

Housing Market Stalls As Interest Rates Remain High, Inventory Falls

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President Trump announces a 10-day ceasefire between Lebanon and Israel, a murder-suicide involving former Democratic Lieutenant Governor Justin Fairfax shakes Virginia, and France and Britain hold a conference to secure the Strait of Hormuz – after the Iranian conflict ends. Get the facts first with Morning Wire.

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U.S. Expands Hormuz Blockade & VA Fairfax Deaths Investigated | 4.17.26

U.S. Expands Hormuz Blockade & VA Fairfax Deaths Investigated | 4.17.26 [Member Exclusive]

A ceasefire goes into effect between Israel and Lebanon, a tragic murder-suicide rocks Virginia, and Dairy Queen deploys AI in the drive-thru. Get the facts first with Evening Wire.
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Housing Market Stalls As Interest Rates Remain High, Inventory Falls