The housing market is reaching new highs despite rising interest rates, making owning a home less affordable. While demand is slowing, more homes are being listed for sale. The number of months of supply, a measure of inventory, has increased, but is still low, indicating a seller's market. Price cuts are also becoming more common. Experts believe that to address the affordability crisis, there needs to be a significant increase in the number of homes for sale or a decrease in prices.
