Despite the rising inventory, the existing home sales in May covered

A culprit for the Gedempte Spring House Buying market is mortgage interest rate, which returned to 7% after Trump announced a new worldwide rate regime in April.

Although many sellers have mentioned their houses after waiting for months until the fall of rates, buyers are still on the sidelines with a cloudy economic outlook in the short term.

“Lower interest rates will attract more buyers and sellers to the housing market,” said Nar Chief Economist Lawrence Yun in a statement. “The increasing participation in the housing market will increase the mobility of the workforce and stimulate economic growth. If the mortgage interest rate falls in the second half of this year, the sale of houses throughout the country will increase as a result of strong income growth, healthy inventory and a record -high number of jobs.”

The West falls the total number because the sale of the existing home there fell by 6.7% year after year. The south fell by 0.5%, while the northeast (4.2%) and the midwest (1%) made annual profit.

The median selling price increased by 1.3% to $ 422,800 per record for the month of May.

Despite the extra inventory, buyers have many macro economic reasons to be careful. Trump paused the majority of global rates, but that break is planned to end on July 9 and reports suggest that trade agreements do not come in fast enough to defeat that deadline.

There is also a chance that the growing war in the middle will increase oil prices, which would give extra stress to the household budgets. From Monday, just before Iran hit an American military base in Qatar, the 10-year treasury had fallen to 4.30%.

Also, Housing Main analyst Logan Mohtashami notes that geopolitical events in the middle -East usually prefer the bond market and the US dollar, both of which refueled in the aftermath of Trump’s rate announcement. The initial bombing of Israel on Iran, however, has not moved the bond market or the dollar.

The good news on Monday on mortgage interest is that Federal Reserve Governor Christopher Waller said that he does not expect serious inflation with regard to rates and that a rate reduction is not excluded in July.