Groundhog Day All Over Again- 2024 Beats 2023 for Title of Worst in Home Sales Since 1995

Real Estate is in a definite slump nationally. 2024 had the fewest transaction on pre-existing homes since… 1995! That’s right: not 2011 or 2010 or 2009 in the wake of the Great Recession specifically caused by the collapse of the US home financing sector, not in 2001 or 2002 following a massive foreign terrorist attack on US soil. There were fewer home sales going all the way back to 1995 when the US population was only 3/4 of its current size. And 2024 stole that title from 2023. Home sales are slower now than in modern American history.

Here are two articles provided via subscriber “gift links” (so hopefully no paywalls) for details and perspective on what’s going on:

From the Wall Street Journal: https://www.wsj.com/economy/housing/u-s-homes-sales-in-2024-fell-to-lowest-level-in-nearly-30-years-3ce94fd9?st=GnuK5Z&reflink=desktopwebshare_permalink

From the New York Times: https://www.nytimes.com/2025/01/24/business/economy/home-sales-mortgage-rates.html?unlocked_article_code=1.t04.kbjM.opl2buNEvv59

And as always, find links below for everything listed, put under contract, or sold in Sea Isle, Avalon & Stone Harbor, The Wildwoods, Ocean City, and Upper Township (includes Strathmere) below. To discuss anything real estate related or your plans to buy, sell, or rent, call us at 609-478-0333 or email [email protected].