U.S. home sales hit a 30-year low in 2024 due to high mortgage rates and rising prices.

In 2024, the U.S. saw the lowest home sales in nearly 30 years, with sales of existing homes dropping 0.7% to 4.06 million, the lowest since 1995. Factors include higher mortgage rates, rising home prices, and a shortage of available homes. Meanwhile, Washington state saw several construction projects completed ahead of schedule, including the 148th Avenue Interchange Overlake Access Ramp and the Rise on Madison affordable high-rise, while affordable housing developments and retrofits received grants and investments.

2 months ago
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