AI-powered
podcast player
Listen to all your favourite podcasts with AI-powered features
The period from 2022 to 2024 is described as the 'stuck era' in real estate, characterized by a significant drop in transaction volume. Transactions plummeted from highs of 6.7 million in 2022 to an expected 3.9 million in 2024, far below the long-term average of 5.25 million. This dramatic decline resulted from both decreased supply and demand, leading to feelings of stagnation in the market. A drop in transaction volume impacts various stakeholders, including agents and investors, as fewer options become available for buyers searching for properties.