What’s going on with the housing market?

wsj

8 min read . Updated: 08 Dec 2022, 09:23 PM IST NICOLE FRIEDMAN, The Wall Street Journal

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Home buyers and sellers are trying to make sense of a downturn that’s full of contradictions: Demand has seized up but supply is still low; prices are sliding but not plummeting; and no one can agree on what comes next

Home sales have plunged. Buyers, facing the fastest-rising mortgage rates in decades, are scrapping their plans. And forecasters have rarely disagreed so much over where the market goes next.