“As it stands today, about 44 million homeowners have a mortgage rate below 6%, according to a National Association of REALTORS® analysis.

That’s lower than the current 30-year fixed-rate mortgage, which has been averaging in the mid- to high-6% range.

Buyers with financial flexibility are often bypassing mortgages altogether: All-cash buyers accounted for 26% of existing-home sales transactions in March, according to NAR’s data.”

This article from the National Association of REALTORS® tries to shed light on the persistent challenges in the housing market. Despite a slight uptick in listings, existing-home sales continue to lag, driven by elevated mortgage rates and ongoing affordability concerns.

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As real estate professionals, understanding these dynamics is crucial for guiding clients through today’s complex market.