Housing Taking a Big Step Back, Realtor.com's Hale Says

The video discusses the impact of rising mortgage rates on the US housing market, noting a slowdown in home sales and price growth. It highlights increased demand in the rental market due to high home costs and examines construction trends, showing a shift towards multifamily housing. Inventory levels are rising, but vacancy rates remain low. The Federal Reserve's policies are expected to keep mortgage rates volatile, and home shoppers are advised to prepare for rate changes.

What are the current conditions regarding inventory and vacancy rates in the housing market?

What advice is given to home shoppers regarding mortgage rates and budgeting?