Oct 5, 2024 - News
Houses are hard to come by
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Historically, the summer months have been prime time for DMV sellers, but the market proved to be sluggish this season.
Why it matters: Those golden handcuffs haven't come off just yet.
The big picture: Only 2.5% of U.S. homes changed hands in the first eight months of 2024 — the lowest turnover rate in 30 years, Redfin analysis shows.
What we're watching: That was before mortgage rates dropped to roughly 6.2%. Homeowners may list, especially if rates fall closer to 5%, experts predict.