The single-family housing market has been in retreat throughout 2023, as sales of existing homes hit their lowest level in 13 years. Sales peaked at an annual rate of 6.5 million in February 2021 and dropped to 3.8 million this fall, a decline of 42%.
Weak Single-Family Housing Demand Fails To Translate Into a Booming Multifamily Market
Rise of Multigenerational Households Seen as One Cause of Rental Apartment Demand
By Jay Lybik
CoStar Analytics
December 27, 2023 | 6:54 P.M.
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