The U.S. housing market has been in gridlock since 2022, when the Federal Reserve began hiking interest rates. Higher mortgage rates crushed affordability – and activity in the housing market crashed.
This situation won’t last forever. The Fed will cut rates at some point. And lower interest rates will likely thaw out the housing market.
Surprisingly, this is already underway… at least compared with recent history.
As we’ll explain today, one measure of housing activity just hit a two-year high. That’s a good sign. But we still have a long way to go before this market gets back to “normal.”
This post originally appeared at DailyWealth.