The US housing market is facing increasing pressure on potential buyers due to rising home prices, persistently high mortgage rates, and a decline in housing supply. These figures reflect closed deals, which often point to contracts signed in September and October, when mortgage rates dipped slightly before stabilizing in a narrow range. Despite an increase in supply for most of the year, November saw a drop in the number of homes on the market. Data from the National Association of Realtors showed that sales of existing homes rose by just 0.5% in November compared to October and were down 1% from November 2024, with the annual sales rate at 4.13 million units.
