Home prices set a new - and scary - record: ‘Major challenge’

Home prices have reached a new and concerning record, presenting a major challenge in the current market. Since 2023, annual sales have remained near a 4-million pace, which is significantly lower than the historical norm of approximately 5.2 million. This trend highlights a stark contrast between rising property valuations and the declining volume of transactions, creating a difficult environment for buyers and sellers as the market deviates from its traditional long-term patterns.