New home sales fell 13.7% in May, showing that the housing market is in a freeze. Redfin said this month that unsold inventory is at a record high.

Industry experts do not expect it to. Housing economists point to five main reasons that the market will not crash anytime soon: low inventory, lack of new-construction housing, large amounts of new buyers, strict lending standards/high credit scores and fewer foreclosures.

Analysts believe a modest drop in mortgage rates could prove to be a "magic bullet" for the U.S. housing market.

Data from Realtor.com shows that delistings outpaced inventory gains in May. While inventory has climbed across the US, prices remain elevated.

In June, over 57,000 home sales across the country were abruptly canceled, equaling a staggering 14.9 percent of homes that went under contract, according to a report from Redfin.

The number of Americans filing new applications for jobless benefits fell to a three-month low last week, pointing to stable labor market conditions, though sluggish hiring is making it harder for many laid-off workers to land new opportunities.

Experts were expecting a rebound in the US housing market in 2025. ... the U.S. housing market is in a bit ... "But we don't anticipate a larger price decline because many sellers will sit on the ...

Economists were hoping for a 2025 turnaround in the housing market, and home buyers could still get some relief if mortgage rates turn lower later this year.