According to the US Census Bureau, while February new home sales came in lower than expected month over month, they are up almost 6% from a year ago. In an interview with Yahoo Finance, Federal Reserve Bank of Chicago President Austan Goolsbee claims that housing inflation is the biggest pain point for the Fed. National Association of Realtors Chief Economist Lawrence Yun joins Yahoo Finance to discuss the housing market, housing inflation, and the increase in home sales. Yun finds real estate markets and homebuyers settling into the idea of elevated mortgage rates in the near term:"I think there is a sizable pent-up seller, delay sellers who have been postponing and postponing, and the mortgage rate, the new normal appears to be between 6 and 7%. We are not going to see 5%. Three and 4%, out of the question. Therefore, I think more people are adjusting to the new normal in the mortgage rates, and they will begin to list the property and more listing is good for the market." For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live. Editor's note: This article was written by Nicholas Jacobino

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