Comment on The housing market capped off its worst year of sales since 1995. Here's how affordability, inventory, and demographics have cha

The housing market capped off its worst year of sales since 1995. Here's how affordability, inventory, and demographics have cha

The housing market of 2023 differed dramatically from that of 1995.Peter Spiro/Getting Images Full-year home sales slowed in 2023 to their lowest mark since 1995. The annual pace of 2023 existing-home sales hit 4.09 million, while in 1995 that was 3.85 million. The housing markets of each year differed dramatically in affordability, inventory, and demand. High mortgage rates, lofty prices, and low inventory kept the US housing largely frozen in 2023, and home sales slumped to their lowest mark since 1995.Full-year sales touched 4.09 million units in 2023, according to the National Association of Realtors, with slower activity across every region in the country compared to 2022.

 

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