The housing market in 2024 has experienced a significant decline with home sales dropping to levels last seen in the 1990s. High mortgage rates and elevated property prices have led to a noticeable decrease in buyer and seller activity.
Vero’s thoughts on the news:
The downturn in the housing market underscores the impact of economic factors on real estate. For those invested in technology and application development, this could mean an opportunity to innovate with tools that help buyers and sellers navigate complex financial landscapes. Given the reliance on data-driven decisions in today’s market, tech solutions that provide real-time insights, predictive analytics, and user-friendly interfaces can play a crucial role in revitalizing the housing sector.
Source: Housing market rewind: Home sales drop in 2024 to level not seen since the ’90s – Yahoo Finance
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