Yahoo Finance Video
According to the National Association of Realtors, the number of homes for sale rose 4.7% in March from February to 1.11 million. However, the number of homes sold fell 4.3% from the prior month. With mortgage rates nearing 7%, inventory and pricing remain a key issue for home buyers. HousingWire Lead Analyst Logan Mohtashami joins Yahoo Finance to discuss the housing market, mortgage rates, and how the recent numbers impact the market. Mohtashami lays out one of the top considerations for the housing market: "Pricing is the thing that shocked everybody, but keep it simple. We are near record lows in inventory, and home sales aren't crashing anymore. 2022 was very abnormal. We had the biggest home sale crash ever recorded in history, and then that kind of stopped after November of 2022. It's basically an equilibrium fight right now. The higher rates go, the weakness in pricing can continue. If rates fall back down with inventory this low, pricing gets better." Watch the video above to hear why Mohtashami thinks getting mortgage rates down to 6% and staying there will be key to a housing market recovery. For more expert insight and the latest market action, click here to watch this full episode. This post was written by Nicholas Jacobino