The real estate market has experienced significant changes in the past three years, particularly in existing and new home sales before and after the onset of the COVID-19 pandemic. According to data from the National Association of Realtors (NAR) and the Census, existing home sales remained relatively stable from 2017 to 2020, with a slight increase in 2021. In contrast, new home sales saw a steady rise from 2017 to 2021, marking a significant uptick during the pandemic. However, in 2022 and 2023, both existing and new home sales experienced a decline, signaling a potential shift in the market. As the housing landscape continues to evolve, these trends highlight the importance of adapting to changing market conditions.
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Shirin Rezania Ramos | 858.345.0685 | www.shirinramos.com | Compass, DRE 0203379
