The U.S. housing market saw the median sales price reach $404,400 after 18 months of continuous annual growth, representing a 6% increase since October 2022. However, 2024 ended with home sales at just 4.06 million, the lowest figure in almost three decades, although the median price hit a record high of $407,500. Current low inventory and homeowners locked in low mortgage rates maintain a challenging supply situation. Regional sales growth was observed, with predictions for 2025 remaining cautious amid a still constrained market.
The U.S. median sales price rose to $404,400, marking the 18th month of annual increases, alongside a troubling forecast for 2024's sales numbers.
While December showed positive sales growth, with a median price hitting a record $407,500, the overall sales for 2024 were dismal, marking a 30-year low.
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