One common theme in many of this year’s housing market trends was affordability
Dec. 20, 2024
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Trends in the 2024 housing market were primarily driven by affordability challenges.
In 2024, the housing market underwent a number of shifts marked by affordability challenges and a lack of available housing. These difficulties prompted many Americans to adopt new strategies, such as downsizing or moving to cheaper areas, ultimately reshaping housing trends across the nation. StorageCafe, an online self-storage marketplace, rounded up some of the main trends observed throughout the year. These include: a surge in fixer-upper purchases due to high home prices, a shift in new-home growth from urban centers to suburbs and exurbs, and an increase in multifamily development, among other trends.
2024 was a year of adaptation as the real estate market transitioned into a “new normal” post-health crisis, with most sectors returning to prepandemic trends — except for office and retail, which continued to navigate structural shifts and evolving consumer behaviors. Read more
