U.S. housing market officially hits 4 years of historically low resale turnover

U.S. resale transactions have largely been bouncing along the “Ds of Housing” transaction floor for four years now.

[Photo: Getty Images]

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Ever since the pandemic-era housing demand surge fizzled out, mortgage rates spiked, and switching costs got out of whack, U.S. existing-home sales have been stuck at historically low levels. That’s been true in relatively more resilient housing markets across pockets of the Northeast and Midwest over the past few years, and it has also been the case in relatively softer housing markets across the Sun Belt that have been experiencing a more pronounced cyclical cooling.

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