It's Getting Worse

Despite slowing sales volume and higher inventory of active homes for sale, the housing market continues to face multiple headwinds.

While a hopeful decline in mortgage rates later this year and into 2025 may provide some relief to buyers, it will not do much to solve the biggest problem: increasing inventory.

Zillow estimates that the nation's housing deficit increased to 4.5 million in 2022.

Even with a large number of housing unit starts, permits, and completions in 2023, the trend is worsening.

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