High levels of inventory have put power in the hands of buyers, but economic uncertainties are making them reluctant to close the deal.

Mortgage rates have remained in a range from around 6.6% to just over 7% this year, according to Freddie Mac’s weekly measure. “If mortgage rates decrease in the second half of this year, expect home sales to increase across the country due to strong income growth, healthy inventory, and a record-high number of jobs,” Yun said.