Earlier this month, mortgage rates reached the lowest average seen since November of 2016. This trend has pushed a higher demand from buyers in the housing market. According to George Ratiu.  REALTOR.com’s Senior economist: “July’s data highlight tension in the housing markets between buyers eager to take advantage of lower mortgage rates and potential sellers concerned about slowing price growth, furthermore, “The decline in newly listed properties suggests that some would-be sellers are stepping back from the market, during the peak buying season, when most people are searching for their next home.”