Nic Parés and his wife, Mallory Micetich, in front of their rental home in Austin.
Photographer: Kaylee Greenlee/BloombergHomebuyers Are Sitting Out the Key Season for Real Estate Deals
Higher mortgage rates, economic uncertainty and uneven supply are weighing on the market
In theory, it’s a buyer’s market for US house hunters. On the ground, it’s tough to tell.
In middle- and lower-priced regions such as Texas and Florida, higher mortgage rates and economic jitters are holding back many prospective buyers. Bidding wars persist in affluent areas around New York and San Francisco, where inventory is scarce. And pretty much everywhere, uncertainty from the Iran war makes deals both hard to price and hard to wait out.