Just 1% of US homeowners sold their house in the first half of the year, leading to the lowest inventory of all time

• Just 1% of US homeowners sold their home in the first half of the year, leading to the lowest inventory on record.
• Higher mortgage rates have made owners reluctant to sell and give up lower rates they locked in years ago. 
• Mortgage rates will need to drop to around 5% to unlock more inventory, experts say.

Just 1% of existing homeowners sold their house in the first half of 2023, helping to drive the number of available homes for sale to the lowest level ever.