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

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.