Dani Romero

Wall Street analysts had hoped the housing market would show signs of life in 2024. Instead, it remained stagnant: Sales of previously owned homes are poised to set the record for the worst year since 1995 for the second year in a row.

The latest Consumer Price Index (CPI) out Wednesday showed that housing costs eased in November in what experts said represented an "encouraging development" on the fight against inflation.

Construction hiring has slowed down in the last few months as immigration and interest rate uncertainty weigh on the sector.

High mortgage rates and impacts from Hurricanes Helene and Milton put a damper on buyer demand.

The latest Consumer Price Index (CPI) report revealed that housing costs accelerated in October, posing a lingering challenge to cool price pressures.

Many aspiring homeowners are still sitting on the sidelines even as mortgage rates have declined since this year's peak in May.

Sales of existing homes fell in September as house hunters remained on the fence about buying a home despite mortgage rates easing during the month.

Homebuilders are feeling more confident about the housing market despite a recent sharp rise in mortgage rates.

Net new orders represent the number of new sales contracts that have been finalized and signed by buyers minus customer home order cancellations booked for the period.

As housing affordability challenges persist, many Americans are finding it increasingly difficult to embark on their home-buying journey. With the 2024 US presidential election approaching, a question emerges: Who do Americans favor when it comes to resolving housing market challenges — Vice President Kamala Harris or former President Donald Trump? For more expert insight and the latest market action, click here to watch this full episode of Wealth! This post was written by Angel Smith