President Donald Trump’s second administration is witnessing increasing signs of strain on the housing market, with realtors sounding the alarm over slowed sales nationwide amid the highest January prices on record. The National Association of Realtors reports that high property values, limited listings, and shakier economic sentiment resulted in an 8.4 percent decline in sales in December. Compared with the same month last year, sales were down 4.4 percent overall, marking the weakest level since late 2023 and the sharpest monthly pullback since early 2022. NAR Chief Economist Lawrence Yun is calling it “a new housing crisis.” Buyers are “struggling,” he said, adding that “the movement is not happening. Americans are stuck.” The latest figures reflect deals finalized after late-year contract signings, a period when mortgage costs hovered before easing slightly. The 30-year fixed rate now stands near 6.1 percent, with declines recorded in every region, and the South and West posting the largest drops.
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