The Housing Market Remains at a Standstill

The state of residential real estate is often described as either a buyers’ market or a sellers’ market, depending on which party has the upper hand in price negotiations, setting contingencies and requirements for down payments or credit. In a recent interview, Rocket Mortgage CEO Jay Farner described the housing market as “even,” whereas a few months ago it was clearly a sellers’ market. This characterization explains the yawning gap between sellers’ and buyers’ interpretations of market prices.