The housing market wakes from the dead – Axios
Illustration: Shoshana Gordon/Axios
The housing market is showing signs of life after veering into a dead zone late last year.
Why it matters: These green shoots are a good sign for the economy overall, and run counter to some of the dire predictions made last fall when mortgage rates were skyrocketing.
What’s happening: Home buyers are making peace with higher mortgage rates, and sellers are making peace with the need to cut prices and make concessions.
While home prices will likely keep falling, there’s reason to think a recovery in sale activity is already underway.
By the numbers: Pending home sales were…….