USA Buyers Are Watching, Not Closing

Spring buyer engagement strengthened nationally, but existing-home sales rose far less, showing that more shoppers were active than able to complete purchases.
With inventory also higher yearly, the mismatch pointed to a sizable group of ready buyers who stayed sidelined instead of reaching the closing table.
Engaged shoppers saved or shared listings, a stronger intent signal than casual browsing and a useful clue for tracking where US demand concentrated.
A brief window of ~6% borrowing costs earlier in the season revealed how even modest affordability relief can quickly bring more US buyers forward.
As borrowing costs moved higher again and uncertainty weighed on households, pent-up demand stayed watchful, and better conditions could still unlock more closings.