US Home Sales Hit Lowest level In Nearly 30 Years, Ownership More Out Of Reach
LOS ANGELES (AP) — The latest evidence that homeownership is becoming increasingly less accessible to many Americans: Sales of previously occupied U.S. homes fell last year to a nearly 30-year low for the second time in as many years. Elevated mortgage rates, a yearslong shortage of homes on the market and record-high home prices continued to stymie prospective home shoppers, especially first-time buyers. That led existing home sales to fall 0.7% last year to 4.06 million — the weakest showing for home sales since 1995 and edging out the terrible year for sales in 2023, the ...