In the final month of 2024, nearly 73,000 homes were pulled from sale indicative of there not being enough buyers to keep up with sellers. Veuer’s Chloe Hurst has the story!
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00:00The Wall Street Journal has highlighted a new dysfunction development in America's housing
00:04market. In the final month of 2024, nearly 73,000 homes were pulled from sale, indicative of there
00:12not being enough buyers to keep up with sellers. Fortune reports this as a 64% spike from a year
00:18ago referencing the CoreLogic data. It is common for delistings to surge in the winter, but this
00:24drastic mismatch in supply and demand reiterates the nine-year high. In 2024, home sales fell to
00:31the lowest level in almost 30 years, as mortgage rates stayed high and the site suggests even new
00:38homes that are built smaller and priced lower have seen even less demand. The National Association of
00:44Home Builders confirms the number of completed homes that are ready to occupy rose 46% in
00:50December to 118,000. A seasonal change may be around the corner as spring typically sees
00:57prospective buyers on a house hunt, perhaps encouraging more sellers to put their homes back
01:03on the market.