Summary:
- The article discusses the ongoing "buyers' strike" in the US housing market, where potential homebuyers are holding back due to high mortgage rates and unaffordable home prices.
- Despite a slight drop in mortgage rates in August, the demand for homes continued to decline, with home sales falling for the seventh consecutive month.
- Amid the weakening demand, the number of homes listed for sale has surged, and home sellers are slowly responding by dropping their asking prices in an effort to attract buyers.