Plummeting Home Sales Highlighting Demand Issues

Existing home sales in the United States have hit their lowest levels since 1995, indicating a significant decline in housing market activity. The comparison reveals that, despite a much larger population today, home sales are alarmingly low, suggesting that demand is far from robust. Even with home prices remaining mostly stable or slightly increasing, the minimal sales indicate a concerning equilibrium between supply and demand, pointing to a lack of consumer confidence. This situation raises the possibility of future price drops if any additional supply enters the market, especially if economic conditions worsen, such as rising unemployment.