human
I've been hearing a lot of news stories about the economy lately. How is it affecting the housing market?
assistant
The economy has definitely had an impact on the housing market, with home prices and sales declining in many areas across the country. Homeowners are feeling the pinch as they try to sell their homes at lower prices than they were previously worth, while buyers are finding it difficult to find affordable options for purchase. Additionally, banks are more cautious when approving mortgage applications, which has slowed down the process for some potential buyers.