The National Association of Realtors will release a snapshot of monthly US existing home sales this week, with some economists predicting the number will fall for the month of May. With the strain of higher for longer interest rates and low inventory, will there be any signs of relief?

ResiClub CEO Lance Lambert joins Market Domination Overtime to give insight into the upcoming US existing home sales and the current landscape of the housing market.

"We are in one of the periods with the fastest affordability strain ever, in terms of going from 2021 to now. That's a historic deterioration in affordability and that rate shock at the end, going from 3% to 4% to 5% to 6% to 7%, really just strained affordability. And so the market still doesn't have a ton of churn occurring, turnover. Think someone who has a home who's like, 'You know what, I'm going to sell this and go buy something else.' That's the piece of the market that's been missing. We still have the deaths. We still have the divorces. We still have some of the first-time home buyers out there struggling. But it's that churn that's been missing," explains Lambert

For more expert insight and the latest market action, click here to watch this full episode of Market Domination Overtime.

This post was written by Nicholas Jacobino