As 2024 closes, the housing market has experienced a 12.1% increase in active listings compared to the previous year, reaching its highest level since 2020. However, over half of these listings are considered stale, remaining unsold for 60 days or more. High mortgage rates above 7% coupled with rising home prices have created a challenging environment, leading to slow sales. While demand continues, many potential buyers have recalibrated their expectations, leading to a market shift towards buyers having more negotiation power. Nevertheless, affordability remains a significant concern for both first-time buyers and those looking to upgrade their homes.