Economist Patrick Gourley Talks About Housing Prices, Interest Rates, And The NAR Settlement

As the spring selling season continues, there are growing concerns about the state of the housing market. Mortgage rates remain high, inventory is low, and a new Gallup poll shows 76% of Americans they surveyed think it’s a bad time to buy a home.  Writer Nicole Murray spoke with Patrick Gourley, an associate professor of economics at the University of New Haven. He explained how the government’s response to the Covid pandemic helped create this problem, said that mortgage rates are unlikely to go down anytime soon, and talked about what the National Association of Realtors settlement means for the industry.