Homebuyers, builders grapple with rising prices amid war in Iran

(NewsNation) – The conflict with Iran has become a new wildcard for American homebuyers already struggling with high prices and mortgage rates.

Despite the traditional spring selling season, the housing market appears to be slowing, with many families hesitant to commit to a mortgage. A recent Gallup poll found that only about one‑quarter of Americans who do not own a home expect to buy one within the next five years.

Existing home sales fell 3.6% in March to a seasonally adjusted annual rate of 3.98 million, the lowest level since June 2025. Even as sales soften, prices remain high, with the median existing‑home price at $408,000.

High mortgage rates and prices keep buyers on sidelines

Data from real estate firm Redfin show pending home sales declined 4.1% year over year in the four weeks ending April 12, marking the steepest drop in more than a year.........

© The Hill