The housing market of 2023 differed dramatically from that of 1995.Peter Spiro/Getting Images Full-year home sales slowed in 2023 to their lowest mark since 1995. The annual pace of 2023 existing-home sales hit 4.09 million, while in 1995 that was 3.85 million. The housing markets of each year differed dramatically in affordability, inventory, and demand. High mortgage rates, lofty prices, and low inventory kept the US housing largely frozen in 2023, and home sales slumped to their lowest mark since 1995.Full-year sales touched 4.09 million units in 2023, according to the National Association of Realtors, with slower activity across every region in the country compared to 2022.
The Housing Market Capped Off Its Worst Year Of Sales Since 1995. Here's How Affordability, Inventory, And Demographics Have Cha
prosen@insider.com (Phil Rosen), Business Insider
Wed, 01/24/2024 - 9:31am
Topics: spiro/getting images full-year high current americans the nar december jessica lautz housing affordability index realtors"all ceo home builders redfin business insider in national association realtors nar the lautz us november in november sales cha million mortgage compared dramatically rates prices level hit differed annual units lowest buyers hovered months factors expects payment worsened homes estate power today
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