Apr 28, 2025
This is a very difficult time for real estate agents and homeowners that are trying to sell their homes. As I have documented below, sales of previously-owned homes in the United States just fell to the lowest level that we have seen during the month of March since 2009.
Needless to say, in March 2009 we were in the middle of the Great Recession. Meanwhile, the number of unsold homes that are currently on the market just continues to pile up. This is likely to put an enormous amount of downward pressure on home prices in the months ahead.
Of course the collapse of U.S. home sales that we are now witnessing did not actually begin during the Trump administration.
In 2024, while Joe Biden was still in the White House, sales of previously-owned homes hit the lowest level in almost three decades...
The final figures for home sales last year are in, and the story is quite grim: 2024 was the slowest year for existing home sales in nearly three decades.
Existing-home sales last year totaled 4.06 million, the lowest on an annual basis since 1995, according to the National Association of REALTORS on Friday.
A big factor behind the slowdown was elevated mortgage rates, which spent most of the year above 6.5%.
In 1995, 266 million people were living in the United States.
Today, 340 million people are living in the United States.
So on a per capita basis, things were even worse last year than they were in 1995.
And now it appears that our problems are accelerating. The number of previously-owned homes sold in March 2025 was even lower than it was in March 2024. In fact, we haven't seen a March this bad since 2009...
Higher mortgage rates and concern over the broader economy are making for a weak start to the all-important spring housing market.
Sales of previously owned homes in March fell 5.9% from February to 4.02 million units on a seasonally adjusted annualized basis, according to the National Association of Realtors. That's the slowest March sales pace since 2009.
The housing market is in a depressed state.
Nobody can deny that.
Sales are falling even though the number of homes being listed for sale has been rising at a very brisk rate...
Sales fell despite a sharp increase in available listings. At the end of March, there were 1.33 million units for sale, an increase of nearly 20% from March 2024. READ MORE
Stay Awake. Keep Watch.
SOURCE: Prophecy News Watch