Insight
US housing industry is 30% smaller than it was four years after the pandemic boom, with existing home sales averaging around 4.2 million annually.
When will home sales finally return to normal?
Summary
US home sales are down 30% from pandemic highs, averaging 4.2 million annually. A key factor is the 'mortgage rate lock-in effect,' preventing 870,000 sales in 2026. Sales are expected to slowly recover via natural decay and potential rate drops.
Key takeaway