U.S. Housing Market Trends: Prices and Availability in 2024
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Introduction
The U.S. housing market in 2024 remains marked by high home prices and limited inventory, presenting challenges for buyers and renters alike. The market is showing signs of adjustment but remains unpredictable.
Home Prices Remain High
Despite interest rate hikes, home prices have shown little sign of falling, as demand continues to outpace supply. The effects of these price surges are most noticeable in metropolitan areas, where competition for housing is fierce.
Inventory Shortage and Its Impact
The ongoing shortage of available homes for sale has led to a slowdown in market transactions. This inventory shortage, particularly in the entry-level market, is contributing to rising rents and pushing buyers further from city centers.