U.S. Housing Inventory Rises as Buyers Face High Prices and Rates
Available homes have increased, but elevated mortgage rates above 6% and high property prices are keeping many buyers out of the market.
Summary
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Terms & Concepts
Mortgage Rate: The interest rate charged by lenders for borrowing money to purchase a home, often expressed as an annual percentage. Rates above 6% can reduce affordability.
Housing Inventory: The total number of homes available for sale in the market at a given time.