Back to '95: A Nostalgic Dive into Today’s Housing Hoopla

Remember the good old days of 1995?  When the most stressful part of your day was choosing between watching "Braveheart" or "Clueless" on a rented VHS from Blockbuster?  Well, fasten your seatbelts (and maybe fire up that dial-up internet), because we're taking a nostalgic ride back to '95 to see how it stacks up against the housing market of today!

Back then, the internet was a newborn baby, and only 2% of home buyers were using it to find their next dream home—compare that to virtually everyone today flipping through house listings as they binge-watch the latest series online​. NAR

The stark difference between then and now really hits home when you look at the numbers.  Visualize this: In 1995, the U.S. was home to about 266.6 million souls, bustling around with significantly more affordable housing options.  Fast forward to today, and our population has ballooned to over 341 million, yet the housing inventory hasn't kept up, leading to a crunch that makes a '90s snack attack look like a walk in the park​. NAR

And prices?  Oh boy, let's talk about that.  In '95, you could snag a home at a median price that would make your 2023 self weep with longing.  But today, brace yourself for record-high prices that have turned the American Dream into more of an American Fantasy for many first-time buyers​. NAR

But it's not all doom and gloom!  While the past may look rosier with its 4.8 months' supply of homes (compared to today's paltry 3.7 months), let's not forget the perks of modern living—like the ability to apply for a mortgage without having to fax your application to a machine that also occasionally eats your papers​. NAR

So, as we reminisce about the simplicity of '95, let's also gear up to tackle the challenges of today's market with all the new tools and tech at our disposal.  Who knows, maybe in another 30 years, we'll look back at 2025 with the same fondness, chuckling over how we thought things were so tough back then.

To all the homebuyers and sellers out there, no matter if you're a '90s kid or a newcomer from the 2000s, the real estate journey remains a thrilling experience, each period bringing its own distinct flavor and hurdles. Let's tackle it with a smile, and why not enjoy some '90s hits along the way to lighten the mood?

For those who crave more details on the then and now of the housing market, you can check out the full dive here.