The war in the Middle East — and the economic uncertainty it has fueled — is clouding what is usually the hottest season for home sales, leaving some sellers facing a dwindling pool of buyers.
The conflict with Iran has driven up borrowing costs and rattled markets, adding to economic uncertainty. The shift is already visible: Existing home sales fell to a nine-month low last month, according to the National Association of Realtors.
“Lower consumer confidence and softer job growth continue to hold back buyers,” said Lawrence Yun, NAR’s chief economist, in a statement.
Markets are closely following the conflict in the Middle