In 2024, the United States saw the lowest sales of previously occupied homes in nearly 30 years. This decline highlights the growing challenge of homeownership in America as housing becomes increasingly less affordable for many people.
Vero’s thoughts on the news:
The decline in home sales is a significant indicator of the broader affordability crisis facing the real estate market. This trend underscores the need for innovative solutions to address the increasing gap between income levels and housing costs. The tech industry, particularly app developers, can play a crucial role by creating tools that help potential buyers navigate the market, secure financing, and explore alternative homeownership models.
Source: 2024 US home sales hit lowest level in nearly 30 years with ownership increasingly out of reach – The Associated Press
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