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U.S. Home Values Trend Below Historical Averages

Appraisal Buzz

This months release covers home sales in September, October, and November, a period in which buyers saw the most for-sale home options in nearly five years. Jones continued: Eager buyers took advantage of the brief reprieve in rates, which resulted in a 6.1% bump in existing home sales in November. in November.

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Housing Market Predictions for 2025

Appraisal Buzz

Key Takeaways Interest rates should continue to decrease in 2025. Housing inventory will likely still be low in 2025, and demand could increase. Will Interest Rates Go Down in 2025? Good news: Mortgage rates will likely continue going down in 2025! But 510% is okay, too, if youre a first-time home buyer.

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Zillow, Fannie Mae diverge on 2025 housing market predictions

Housing Wire

Dramatic mortgage rate movements are destined to play a major role in the coming year, according to Zillow ‘s newest forecast , which also calls for declining mortgage rates to be a catalyst for home-sales growth and home-price appreciation in 2025. “There’s a strong sense of dj vu on tap for 2025.

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The End of the Fixer-Upper?

Appraisal Buzz

Sorry, Home Depot, we have entered the age of move-in ready. Buyers are willing to pay nearly 4% more than expected for a home that is already remodeled (3.7%)an However, buyers who are already stretching their budget to afford a home in todays market may not be willing or able to spend more on renovations or repairs.

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Climate risk is rising. It calls for a rethinking of home insurance coverage

Housing Wire

Now, soaring premiums demand more careful review and sticker shock is prompting buyers to walk away from deals, especially in states like Florida and Texas. In California, where more than 7,000 wildfires occurred last year, the typical homeowner in many ZIP codes paid premiums as low as 0.05% of home value, according to the Times.

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Homebuyer Competition Stiffens in the Northeast 

Appraisal Buzz

According to new Zillow research, Buffalo, New York, is projected to be the hottest major housing market in 2025. What should be the most competitive markets for buyers this year share two characteristics: relative affordability and a dearth of available homes. Thats the good news. 13 position this year.

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Home-price growth is cooling, leading to appraisal challenges

Housing Wire

Cleveland-based Corporate Settlement Solutions (CSS) released an analysis Thursday that highlights a growing gap between appraised home values and sale prices. According to the most recent data from the S&P CoreLogic Case-Shiller Home Price Index, U.S. home prices rose by 3.6% year over year in October 2024.

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