This week's housing data reveals a market frozen in contradiction.

Mortgage rates fell again—now at 6.01%, the lowest since September 2022. Refinance applications more than doubled. The rental market officially tipped in favor of tenants, with 44 of 50 major metros now renter-friendly. An additional 5.5 million households qualify for mortgages at today's rates compared to a year ago.

And yet: pending home sales fell. Again.

Meanwhile, institutional investors are increasing transaction volumes. Lenders are "hungry" to put debt on multifamily assets. Investment activity is picking up, not slowing down.

So what's happening?

Two different markets are emerging. One where informed capital is moving aggressively. And one where consumers are waiting for conditions that have already arrived.

Remember: Everything in real estate is negotiable.

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Women + Real Estate™ delivers market intelligence for decisive action—covering tactics, policy, opportunities, and analysis.

By Eve Moss, market analyst and founder of Women + Real Estate™.

New episodes weekly.