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In this aerial view, single family homes are shown in a residential neighborhood on October 27, 2022 in Miramar, Florida.
In this aerial view, single family homes are shown in a residential neighborhood on October 27, 2022 in Miramar, Florida.

Joe Raedle/Getty Images

  • In recent months, the US housing market has seen mortgage rates fall while inventory stays tight.
  • New home sales are down 27%, and existing home sales have declined 40% since January 2022. 
  • Meanwhile, homebuilder stocks notched a banner year in 2023.

The US housing market is facing historic unaffordability and it's kept countless Americans sidelined or forced to face hefty monthly home payments.

Tags
Real Estate, Markets, mi-exclusive, Markets, housing-market, real-estate, mortgage-rates, home-prices, home-sales, Affordability, NAR, nar-housing-affordability-index, Vacancy, william-blair, housing-outlook, economy, Recession, federal-reserve, Fed, rates, interest-rates
Source
The state of the US housing market in 5 charts