US housing market faces record supply-demand gap, raising concerns for broader economy

The US housing market reached a record imbalance in August, with sellers outnumbering buyers by 57.9%, the widest gap since Redfin began tracking data in 2013. While supply is recovering, demand remains historically weak due to high mortgage rates, which averaged 6.76%. Analysts suggest this trend reflects the underlying impact of high interest rates on the economy, potentially affecting broader financial markets including stocks and Bitcoin.