According to Jinshi, the National Association of Realtors said on Thursday that the number of U.S. home purchase contracts signed in April fell by the most in three years, the lowest since February 2021, as high interest rates suppressed the real estate market. Chief economist Lawrence Yun said that the impact of rising interest rates throughout April suppressed home purchases, even as inventory on the market increased. But the Federal Reserve is expected to cut interest rates later this year, which should bring a better situation, with improved affordability for homebuyers and increased supply.
