The housing market's long winter faces a slow thaw and many unknowns

Main Idea: The U.S. housing market is still stuck in a slow freeze, and President Donald Trump’s promise to quickly lower costs faces major headwinds from high mortgage rates, tight supply, and possible tariff-driven price hikes.

Key Points:

• Home sales fell in January, while new construction permits dropped and builder confidence slipped, showing the market is still weak.
• Mortgage rates have stayed high for two years, and buyers are waiting for rates to fall before making moves.
• Trump has promised lower rates, more housing supply, and easier rules, but his tariff plans and immigration crackdown could raise costs and hurt construction.
• Experts say buyers may have more choices than last year, but the market is still far from balanced and the spring selling season may be slow.