U.S. Housing Turnover Hits 30-Year Low: What It Means for Today’s Buyers and Sellers
- Yvonne Yang
- 3 days ago
- 1 min read
The U.S. housing market is still feeling the chill, with the number of homes changing hands dropping to the lowest level in three decades, according to a new Redfin report.
Only 28 out of every 1,000 homes were sold in the first nine months of the year — a clear sign that both buyers and sellers are holding back.
Why It’s Happening
Rate lock effect: Many homeowners are keeping their low-rate mortgages (below 5%) and don’t want to sell and buy again at today’s higher rates (around 6%–7%).
Affordability challenges: Buyers are facing high prices, rising costs of living, and uncertainty around jobs and tariffs — all making it harder to commit to a purchase.
For Home Sellers
Inventory remains extremely low, which means less competition if you decide to sell. Well-presented, move-in-ready homes still attract serious buyers — especially in desirable locations or updated condition.
For Home Buyers
Fewer listings mean limited choices, but also less bidding wars than during the pandemic peak. If you find a home that fits your needs and budget, locking in before rates rise again could be a smart long-term move.
Looking Ahead
While the Fed’s recent rate cuts sparked some optimism, experts don’t expect mortgage rates to drop dramatically soon. Zillow forecasts that 30-year mortgage rates will likely hover between 6% and 7% through 2025.
✅ Bottom Line
The market may be “frozen,” but opportunity still exists — especially for buyers and sellers who understand the new dynamics. If you’re considering making a move, now’s the time to get strategic and informed.
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