Demand Destruction for Existing Homes: Sales in 2024 to Plunge Below 4 Million Homes, Lowest since 1995, as Supply Spikes

Demand for existing homes is wilting further, despite surging inventories and spiking supply and much lower mortgage rates – they hit a two-year low at the time these sales were made: Sales of existing single-family houses, condos, and co-ops that closed in September dropped to a seasonally adjusted annual rate of 3.84 million...