Existing home sales slightly ticked up in January, aided by lower mortgage rates from the end of 2023. But now it seems rates are picking back up, climbing up for the third week in a row. What would it take for things to finally turn around? Zillow Senior Economist Orphe Divounguy joins Yahoo Finance to discuss the state of the housing market and what could finally turn it around. Divounguy gives insights into trends in the housing market at the moment and what buyers need to keep in mind: "We have a lot of cash buyers. Cash buyers have taken over. If you look at what we're seeing in the market in January, what we're seeing is sellers in an environment where there weren't a lot of sales in December, sellers coming back are not sure how to price their homes. You're seeing one in five active listings with price cuts. It means that if you're a buyer right now, if you're a buyer coming in early, you may be able to take advantage of the fact that sellers are not quite sure how to price their homes to get yourself a great discount." 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

Read more --->