Home Sales Plummet in May

Key Points:

– May saw the lowest number of home sales since the beginning of the pandemic.
– Factors like rising prices and low inventory are affecting the real estate market.
– Economists are predicting a slow but steady recovery in the housing sector.

Hot Take:

With home sales hitting rock bottom, looks like the housing market is taking a siesta. Maybe it’s time for buyers to put on their bargaining hats and for sellers to sweeten the deal with some free avocado toast!
Original article: https://www.biggerpockets.com/blog/homes-sales-bottom-out-may-2024