1381 - Home Sales Bottom Out to Near-Record Low as Prices Continue to Climb by Moriah Costa
Update: 2024-07-26
Description
Home sales fell to one of the lowest levels on record in May as high prices, elevated mortgage rates, and a housing shortage continue to keep buyers on the sidelines.
According to data published by Redfin, there have only been two months in the past decade with fewer home sales: when mortgage rates jumped to a 23-year high in October 2023 and in May 2020, during the early days of the pandemic.
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