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US Housing Market Hits 30-Year Low, Only 2.5% of Homes Sold in 2024

Name: US Housing Market Hits 30-Year Low, Only 2.5% of Homes Sold in 2024
Uploaded: 2024-10-01T11:59:23-07:00
Channel: NBC Palm Springs
Description: A new report from Redfin reveals the US housing market is experiencing its lowest turnover rate in 30 years, with just 2.5% of homes sold in 2024. Suburban and rural areas have slightly more activity, while urban markets see deeper slowdowns. Experts hope the Federal Reserve's recent rate cut will help revive the market.

A new report from Redfin reveals the US housing market is experiencing its lowest turnover rate in 30 years, with just 2.5% of homes sold in 2024. Suburban and rural areas have slightly more activity, while urban markets see deeper slowdowns. Experts hope the Federal Reserve's recent rate cut will help revive the market.

By: NBC Palm Springs

October 1, 2024

US housing marketRedfin reporthome sales 2024housing market slowdownFederal Reserve rate cutsuburban vs urban housing trends

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