In August, U.S. home sales fell more than expected, hitting their lowest levels since the pandemic began. Existing home sales declined by 2.5%, despite falling mortgage rates and an increase in housing supply. Notably, the housing market faces significant challenges, including high costs, persistent rate worries, and election-related anxieties. Fannie Mae has expressed a pessimistic outlook for home sales, forecasting rates could decline further but buyers remain hesitant. As the Federal Reserve has cut interest rates, experts suggest a potential rebound might be on the horizon, leading many homebuyers to wait and see while recent statistics indicate the slowest annual sales pace in nearly a year.