According to Redfin, U.S. homes are selling at the slowest pace since the pandemic's onset in early 2020, as high mortgage rates and elevated home prices persist.
CBRE's latest research highlights a strong recovery in the U.S. multifamily market during late 2024, fueled by declining vacancy rates and robust demand.
According to the Miami Association of Realtors, total Miami-Dade County residential sales rose 2.9% year-over-year in December 2024, driven by a 9.9% rise in single-family home sales and a 51% surge in $1M+ condo transactions.
In 2024, existing U.S. home sales fell to their lowest annual level since 1995, with just 4.06 million homes sold on an annualized basis. This steep decline was driven by 23-year high mortgage rates, extreme home price inflation, restrictive government regulations, declining consumer sentiment and a shortage of housing inventory.
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