US Home Sales Fall For Sixth Straight Month In July

According to Lawrence Yun, chief economist for the National Association of Realtors, “we are in a housing recession

According to him, this is hurting prospective purchasers while helping current homeowners, many of whom secured mortgages

reduced rates and have experienced an increase in home values. The housing market entered this year at its highest point in almost 15 years.

As soon as limitations started to weaken around the middle of 2020, the pandemic sparked new demand.