Many prospective homebuyers may find themselves locked out of the market again this year. What key signs should buyers watch for in the coming months? In the final episode of our special series, “Buying a Home in 2025: Navigating the Crunch,” host Ariana Aspuru takes a closer look at the ongoing challenges facing the housing market, with Wall Street Journal reporters Veronica Dagher and Nicole Friedman, and Redfin’s chief economist, Daryl Fairweather. We'll explore the challenges facing builders, from President Trump’s tariffs and the Federal Reserve’s plans for interest rates to the impact of potential deportation-induced labor shortages. We’ll break down how these factors will affect the construction of new homes and could shape the housing landscape in the future. Catch up on previous episodes here. Sign up for the WSJ's free Markets A.M. newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

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“What did the council decide on item 42?” — answered with the speaker and the moment.