Jennifer Ludden

Jennifer Ludden, NPR News, Washington.

There are more home sellers than buyers.

In fact, the gap has doubled from a year ago, according to a new analysis by Redfin.

That normally brings prices down, and the real estate company does expect some sellers to keep cutting prices or offering concessions.

but it notes many Americans simply cannot afford to buy a home, with prices up more than 50 percent since 2020.

Redfin also finds the number of both buyers and sellers down from a year ago due to high costs and economic uncertainty.

Unemployment has been ticking up, and so have foreclosures.

Economists say a severe housing shortage is a key factor keeping prices high, and fixing that would take years.

Jennifer Ludden, NPR News, Washington.

There are more home sellers than buyers.

In fact, the gap has doubled from a year ago, according to a new analysis by Redfin.

That normally brings prices down, and the real estate company does expect some sellers to keep cutting prices or offering concessions.

but it notes many Americans simply cannot afford to buy a home, with prices up more than 50 percent since 2020.

Redfin also finds the number of both buyers and sellers down from a year ago due to high cost and economic uncertainty.

Unemployment has been ticking up, and so have foreclosures.

Economists say a severe housing shortage is a key factor keeping prices high, and fixing that would take years.

Jennifer Ludden, NPR News, Washington.

In an oral ruling from the bench, Judge Mary McIlroy in Rhode Island says it's likely HUD's overhaul is unlawful and agreed with critics that it could push many people back into homelessness in the middle of winter, causing irreparable harm.

HUD has sought major cuts to permanent housing and instead wants to beef up transitional housing that requires people to work and get treatment.

But the overhaul was announced so late in the year, many places are set to run out of money before new funds flow.