00:00Elevated mortgage rates are keeping many Americans on the sidelines,
00:04with home sales remaining sluggish despite steady demand.
00:07Buyers continue to struggle with affordability,
00:10while many homeowners are reluctant to sell
00:12and give up lower interest rates secured in previous years.
00:16Economists say the combination has created a housing market
00:19with limited inventory and fewer transactions.
00:22Until borrowing costs ease, the market is expected to remain under pressure.
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