In its May meeting, the Federal Reserve kept interest rates steady for the third time this year. While many are hoping for a rate cut soon, new tariffs and inflation concerns may delay rate changes from the Fed.

While mortgage rates have fallen, they remain well above the rates enjoyed by most current homeowners, who may be reluctant to put their homes on the market and risk a much higher rate on their next mortgage. In turn, the market could continue to suffer from a lack of supply, making options limited and prices sticky.