Were you planning to buy a home, but decided to hit pause?

For the past few years, the math of buying a home in the United States has been tough: low inventory, high mortgage rates and record-high prices have made homeownership increasingly expensive. Earlier this year, there was hope that the housing affordability picture might finally be improving. Mortgage rates briefly fell below 6% for the first time in three years, offering prospective buyers some relief. But that was short-lived. Rates have climbed steadily since the US began its war against Iran in February, with the average 30-year mortgage rate hitting the highest level of 2026 last week. Signs suggest many Americans have stepped back from the housing market. In July, Redfin reported that home-showing activity was growing at a slower pace than it had been just one year earlier. In August, only 5.2% of consumers said they planned to buy a home within the next six months, according to the Conference Board – the lowest reading in five years.