Housing Market Cools But Home Remains a Cornerstone of American Life
-
The housing market is slowing down due to higher interest rates and economic uncertainty, but the emotional meaning of "home" will keep demand resilient.
-
Homeownership enables wealth building and is considered part of the American Dream, especially among immigrants.
-
People felt the importance of home and community more after COVID; they want comfort, safety, and roots.
-
Despite market fluctuations, most non-homeowners still aspire to own, seeing home as part of their life journey.
-
While affordable housing issues and climate impact construction, agents can provide data to smooth transactions.