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The party’s over for America’s housing market, but this real-estate CEO believes it will recover

The housing market has hit some turbulence but it’s nothing that can’t work itself out, one real-estate veteran says.

Bess Freedman, CEO of Brown Harris Stevens (pictured). What’s squeezing the housing market? And where are the bright spots?

Brown Harris Stevens

The pandemic home-buying frenzy came to a screeching halt when the U.S. Federal Reserve raised interest rates last June. Rates have since doubled, remaining firmly above 6%. After home sales plunged, the housing sector has recovered somewhat, but it is now facing a shortage of homes for sale, leading the market into a bidding frenzy once again.

It is fundamentally a different market, Bess Freedman, CEO of Brown Harris Stevens, told MarketWatch in an episode of Barron’s Live.