Big Take Why It’s So Hard to Buy or Sell a House Right Now
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Jul 31, 2025 Prashant Gopal, Bloomberg's U.S. housing reporter, dives into the current chaos of the housing market, noting it’s the slowest spring in over 13 years. He discusses the frustrations of buyers and sellers faced with skyrocketing prices and soaring mortgage rates. Gopal emphasizes the impact of economic uncertainty and the profound housing supply crisis, highlighting the need for new construction to meet the incredible demand. He also gives insight into the emotional complexities that homeowners contend with when deciding to sell in this tumultuous market.
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Housing Market Weakest Since 2012
- The U.S. housing market is currently weak and has posted its slowest spring season since 2012.
- Buyers feel locked out due to high prices and mortgage rates, causing a freeze in sales activity.
Economy Spooks Homebuyers
- Economic uncertainty and chaotic market conditions have spooked buyers despite increasing inventory.
- Higher listings didn't bring more buyers due to worries about the economy and trade tensions.
Absorption Rate Declines with Politics
- The absorption rate, indicating how much inventory sells monthly, has steadily fallen this year.
- This decline aligns with political changes and government workforce cuts, especially hurting the D.C. market.