Home Prices and Mortgage Rates Show Signs of Stabilizing as Housing Market Recovers

Home prices unexpectedly increased in February, halting seven straight months of declines.
Mortgage rates have declined over the past month and a half, boosting homebuying demand and stabilizing the housing market.
Sales of new homes surged in March to a one-year high, indicating renewed interest from buyers as rates became more affordable.
The supply of homes remains tight due to low inventory, preventing steeper price drops and supporting a modest recovery in the housing sector.
Economists predict the housing correction spurred by spiked mortgage rates last year is losing momentum, though affordability constraints and variable-rate products still pose risks.