The housing market
The housing market is showing signs of stress as demand for housing, which peaked from the second half of 2020 through the end of 2021, dropped, causing sales volume to crash to almost half of its peak level.
After experiencing explosive growth in the two post-pandemic years, the number of existing homes sold in the US dropped from more than 6 million a year to less than 4 million by 2023. In the Valley, the peak was nearly 11,000 homes sold in 2021, and, like the national average, it crashed to a low of 6,000 in 2023 and has remained relatively stable since then.
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Listen to Economic Pulse Fridays at 5:44 PM during All Things Considered; Mondays at 7:30 AM during Morning Edition.
(Original air-date: 6/20/25)
