This quote from The Daily Upside doesn’t surprise me:

Sales of new homes picked up considerably to end 2024. But sales of old homes are at their slowest pace since 1995.

A big part of the pandemic housing market insanity was older workers buying their forever homes. Locking up the existing inventory at that time and taking a big portion off the potentially liquid market for the near future.

Also, more evidence of The Great Splintering.