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The 30-year fixed mortgage rate hit a more than two-year high last week, sending mortgage applications down for the third consecutive week.
Stuart Thompson, reporter at the New York Times, tried selling his house using a chatbot instead of a realtor. The result? A higher sale price than he was expecting.
While would-be buyers are facing economic uncertainty, would-be sellers can afford to hold out for more money.
August saw a 1.4% drop in active listings, while new listings dropped 1.1%, according to new data from Redfin.
New research suggests people are getting used to high prices and mortgage rates.
Real estate agents say buyers are showing patience, possibly hoping for a longer-term rate-cut scenario.
