https://www.siliconvalley.com/2024/06/22/home-sales-real-estate-millenials-interest-rates/

AUSTIN — U.S. existing home sales have reached their lowest levels in nearly 30 years, despite a surge of millennials entering their prime homebuying years, and activity likely won’t bounce back until interest rates start coming down.

“I thought by this time the housing market would be recovering. It has not yet recovered. Home sales are still down from last year,” said Lawrence Yun, chief economic with the National Association of Realtors, speaking Thursday at the annual conference of the National Association of Real Estate Editors in Austin.