(WHTM) — It’s not the best time to be looking to buy a home during this so-called “housing market ice age.”

It’s been a rough couple of years for homebuyers as people struggle with rising mortgage rates and a shortage of homes for sale. And a new report says it’s not getting better anytime soon.

Every prospective home buyer is hoping for an improvement in the housing market. Over the past two years, homes have sold in hours, with bidding wars and multiple offers.

Realtors say for 2023, things have slowed down a little bit.

“The market is still a little crazy. But inventory has increased a little bit compared to last year,” said REALTOR SUPER.

But you can forget about a return to a normal pre-pandemic home-buying world. A new report called “The Housing Market’s Ice Age” says it’s still bad for buyers and shows no sign of changing.

Why?

Few homes are for sale because homeowners are locked into low, three percent mortgage rates, so supply and demand will remain out of whack for the for foreseeable future.

The near future does not look much better, according to experts quoted by Insider.

Almost the entire nation is experiencing a housing shortage and young couples that are tired of rising rent prices have been flooding the market only to find a few affordable homes for sale.

The bottom line: realtors say waiting until next spring may not help, so keep searching so you don’t waste your money.