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The reasons behind the decline are well known to the apartment industry.
For the first time, mobile shopping passed desktop.
Affordability will be the main determining factor by home buyers.
Spending did dip in November due a decline in public-sector activity.
But then home buying in general slowed in 2023.
Not surprisingly, the most expensive areas are on the east and west coasts.
Some markets are flourishing even as development nationwide slows.
Many out-of-town home buyers have significantly higher incomes than local residents.
