"The takeaway is things are better than feared."

Reverse mortgages let homeowners draw down their equity in monthly installments, lines of credit or lump sums.

The big question the report doesn't answer is whether a recent drop in mortgage rates will fuel a rebound in sales.

One financial expert says, "Housing could be heading for its worst year since the last housing crash."

The combined forces of a tight supply and heightened demand are still driving up prices, albeit at a slower pace.

The biggest concern is rising rates in conjunction with higher prices.

Starter homes are now more costly to purchase than at any time since 2008.

Buyers facing rising mortgage rates as well as higher purchase prices are thinking twice before overpaying.