New home sales fell 13.7% in May, showing that the housing market is in a freeze. Redfin said this month that unsold inventory is at a record high.

Housing inventory just hit its highest level since before the pandemic. What does it mean for buyers, sellers and the market's outlook?

U.S. single-family homebuilding and permits for future construction fell sharply in June as high mortgage rates and economic uncertainty hampered home purchases, suggesting residential investment contracted again in the second quarter.

Data from Realtor.com shows that delistings outpaced inventory gains in May. While inventory has climbed across the US, prices remain elevated.

But Goldman Sachs has warned prospective home sellers that the housing market downturn is expected to worsen in 2023. And for interested home buyers, this doesn’t necessarily mean lower home prices.

us housing market sees $2.3t drop in value, biggest since 2008 Residential homes in Teaneck, N.J., Nov. 24, 2022. (Yuvraj Khanna/Bloomberg via Getty Images / Getty Images)

No, the housing market is not even close to the housing market crash during the 2008 Great Recession, experts agree. That's in part because of new lending regulations resulting from the meltdown.

US home builder confidence plummeted 12 points to 55 in July, according to the latest data from the National Association of Home Builders/Wells Fargo Housing Market Index.

In all, Goldman projects sharp declines this year in new home sales (22% decline), existing home sales (17% drop) and housing GDP (8.9% drop). It projects further declines in 2023, including ...

America’s housing market is finishing a year of high prices, sluggish sales and elevated mortgage rates. But there are factors that could give it a boost next year.