Is America’s Housing Market Starting To Thaw?

Don't look now, but existing US home sales surged last month, according to data released on Thursday. You know the backstory. Hopefully, you can recite it yourself from memory: An intractable dearth of resale inventory attributable to the so-called "golden handcuffs" effect was responsible for one of the most protracted sales downturns in living memory. As it turns out, raising interest rates rapidly after affording every homeowner in the country an opportunity to refinance their fixed-rate, 3