Part 4/8:
The total number of homes sold in the previous year dipped to 4.06 million, marking an abysmal low not seen in nearly three decades. Notably, these figures exclude new constructions, indicating that existing homeowners are less inclined to sell. With inventories already tight, the market’s inability to replenish itself adds layers of complexity to an already turbulent scenario.
As we seek to understand why so many housing transactions are falling through, it becomes evident that perceptions of the current market are negatively impacting buyers and sellers alike, creating a cycle of indecision.