As interest rates climb, people who own homes with low mortgage rates have little incentive to sell, keeping the supply tight.

With real estate firms in financial distress, thousands of people are left with unfinished condos. Some are trying to fight back.

Prices may be coming down and houses are on the market longer, but many potential buyers have given up.

On top of rising mortgage rates, home prices are 6.5 times higher than the typical first-time buyer’s income.

The Mortgage Bankers Association reports the average monthly payment on a new mortgage in July was $1,844, down $49 from June, as mortgage rates and loan amounts edged lower.

Higher home prices and the Federal Reserve’s efforts to curb inflation are responsible for much of the slowing market.

This could be another indicator that things are cooling down, but home prices are still at record highs.

Putting rental units on the market isn’t easy, though.

The housing market is cooling a little. But there still aren’t that many homes for sale, just more than last year.

In some markets, sellers can no longer bet on multiple offers and quick deals, and buyers can afford to be pickier.