3 reasons home prices keep going up, even though fewer people are buying

Despite a drop in homebuyer activity, national home prices continue to rise due to several factors. First, supply chain issues and material shortages have driven up construction costs. Second, the ongoing pandemic has changed work habits, leading to a preference for larger homes in suburban areas. Lastly, low mortgage rates have made it financially attractive to buy, even with fewer people entering the market. This trend underscores the complex interplay between supply, demand, and external economic factors in the housing market.