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All the housing market data for 2024 is in, and its fair to say that the housing market surprised us again! However, there are two big trends that stand out as we launch into 2025 affordability and sellers in the market. In 2025, housing affordability in the U.S. The elephant in the room is affordability.
Home prices in 2025 are a couple percentage points above where they were last year at this time. There are obviously fewer buyers who can afford these prices. In 2024, we saw a notable increase in buyer demand when mortgage rates got close to 6%. housing market. more homes on the market now than a year ago.
If youre thinking about buying or selling a house and wondering about the housing market, youre not the only one. The real estate market has seen a lot of unusual trends in the past couple of years, so it makes sense that youd want the latest market update before you make any major decisions! Will Interest Rates Go Down in 2025?
Despite 2025 housing market predictions changing fast , there are still key themes and trends for real estate leaders to watch to best serve their clients and business. HW: What housing trends do you think will continue in 2025 and why? Home building is expected to increase in 2025.
As 2025 draws near, mortgage rates are once again in the news. Zillow anticipates a more active housing market with more buyers obtaining the upper hand in 2025. As the market gradually recovers, 2025 should bring more sales and relatively moderate increases in property values. Zillow predicts 4.3
Realtor.com has revealed its Top Housing Markets for 2025 , highlighting the areas ready for growth in the year ahead. Sun Belt Boom Realtor.coms top 10 are all located in the South and West, with multiple markets from three statesTexas, Florida, and Virginia. of their income on housinghigher than the national average of 29.2%.
The COVID-19 pandemic turned a number of nontraditional cities into housing market hotspots. While some of those markets have since seen a reversal of fortunes, 2025 may bring a few more surprises. NAR expects the Midwest revival to continue in 2025, as Indianapolis and Grand Rapids, Michigan, are among 10 metro areas listed.
As the year draws to a close, available unsold inventory of homes on the market is nearly 27% greater than a year ago. Almost every market in the country has more homes available now than at the end of 2023. A few states have more homes on the market now than any time in the last eight to 10 years.
Weve now been in the post-pandemic housing market recession market as long as we were in the pandemic boom. As we look into 2025, the question everyone is asking is: Do we have a new era starting? Does the housing market start to get back to normal? But, the market change isnt evenly distributed.
When mortgage rates decline, sales improve, but it becomes more challenging for builders and buyers when rates rise. This situation poses a risk to construction labor in 2025. Is 2025 the first year we start losing residential construction jobs? I wrote about why this presents a housing recession risk for the Federal Reserve.
Homebuyers have become older and wealthier Young people are having a particularly hard time in the housing market. The median buyer is now 56 years old, up from 49 in 2023. Even though homebuyers are getting older and increasingly paying cash, those taking on new mortgage debt are younger buyers from racially diverse backgrounds.
What will the housing market look like in 2025? For a more comprehensive look, read our 2025 Housing Market Forecast covering home prices, home sales volumes and more. Mortgage rates continue to move higher and that’s impacting buyers. Frankly, it feels like the housing market is contracting a bit now in November.
Zillow is predicting a more active housing market in 2025 , but those hoping to buy — or even refinance — should buckle up for a bumpy ride and be ready to move when conditions are right. More inventory should shake loose in 2025, giving buyers a bit more room to breathe. For existing home sales, Zillow forecasts 4.3
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. million in 2025.
Timing is crucial in a difficult real estate market, and this year, the Realtor.com Best Time to Sell study indicates that the best time for sellers to discover the best balance of market circumstances is between April 13 and April 19. Quicker market pace: Homes typically sell faster during this week due to above-average demand.
Forecasts for the housing market in 2025 are not that rosy, but Ryan McKeveny and Brian Hale see this as a good thing for the years ahead. The market is reaching this coiled spring point, he said. We saw it in September, when you do get some improvement in rates, consumers come to the market pretty quickly.
“Despite higher mortgage rates in November and persistent affordability challengers, buyers took advantage of more inventory as pending home sales reached the highest level in nearly two years. ” Housing industry experts attribute the recent increases in pending home sales to a shift in buyer attitudes about mortgage rates. .”
Higher mortgage rates are forcing many first-time homebuyers to adopt a “wait-and-see” approach to the market. According to HomeLight ‘s Top Agent Insights report released this week, real estate agents are feeling this and are being forced to switch up tactics to attract buyers.
In 2025, Florida and the Mid-Atlantic are the greatest locations for first-time homebuyers to begin their road toward home ownership. Even in these high-opportunity areas, tradeoffs likely need to be considered for buyers to get to the closing table. in Wilmington, this guideline is applicable in all ten of the top markets.
The year 2025 will be transformative for real estate. Rising personal home insurance rates, fueled by escalating claims costs, increasing property values and the growing frequency of natural disasters, will all have a profound impact on market dynamics and homeowners insurance costs.
There are already plenty of markets nationwide where the inventory of unsold homes has built up over the past few years and home prices have ticked down. Today, the weekly Altos Research -tracked active market data shows signals for this spring that more markets are softening and fewer are pushing higher. this week is $421,000.
If 2024 was a rollercoaster, 2025 is shaping up to be a championship gameand every buyer , seller and homeowner has a shot at winning big. After a year filled with rate swings, unpredictable markets and a bit of drama (thank you, inflation), the real estate world is ready for a fresh start. The key takeaway?
As we head into 2025, Im optimistic about the Southern Nevada real estate market and the opportunities it presents. Economic landscape and interest rates The political climate is changing, and I believe this will contribute to a heating-up of the real estate market in the new year.
The company has been in business since 1957 as we always say, we are a multigenerational company and that is not just a marketing phrase, Hanna said. It created a buyer representation certificate for agents. In 2025 and beyond, Hanna said he hopes these innovations lead to more growth.
Auction.com has released its 2025 Distressed Market Outlook , which forecasts foreclosure auction volume decreasing 8% in 2025 as a baseline scenario. The forecast also incorporates two other less likely scenarios with differing macroeconomic and housing market assumptions.
The stagnant 2024 housing market is one the real estate industry cant wait to get away from, but not so for the niche luxury market. The 2025 Red Paper from The Agency shows the luxury market making a sharp diversion from the broader existing home sales market, which could clock in near a historic low at fewer than 4 million sales.
Like much of the housing market at the moment, home prices remained relatively flat coming into the fall,” says Selma Hepp, chief economist for CoreLogic, in a statement. Photo: Frames For Your The post CoreLogic: Home Price Growth Forecast to Flatten in 2025 appeared first on Appraisal Buzz.
Home negotiations technology platform Indigo just received a large investment to expand its operations in 2025. “We were drawn to Indigo’s vision that the market is shifting from a search-centric to transaction-centric model. Indigo is a search platform that allows buyers to bid on agent-approved listings.
However, if home prices hadn’t skyrocketed alongside mortgage rates , we would have more younger homebuyers entering the market and we would have a slightly higher homeownership rate than todays 65.7% Our population was too young or old to actively participate in the home-buying market actively, tilting the scale toward renting instead.
The company’s Auction Market Dispatch for third-quarter 2024 included a survey conducted in late September of more than 140 active buyers on the platform. While 45% said current market conditions were not impacting their desire to purchase distressed property, 34% said conditions were detrimental to their decisions.
During the conversation, the group discuss real estate market challenges, the value of being a part of an association, and growth areas for associations in 2025. To kick off the live conversation, Velt asks a question about the current challenges facing the housing market in 2025. Jeff, I’ll start with you.
If so, here’s how to return back to our roots and navigate an ever changing market. Additionally, with cooperative compensation removed from MLS systems, alongside the new requirement for buyer-agency agreements, agents must speak up and share their value clearly and confidently. Isn’t that promising?
In a challenging and expensive housing market , some prospective homebuyers may compromise on certain standards and features to secure their purchase. But survey data released Thursday by Bright MLS found that some standards were top priorities for some buyers. More specifically, 56.1% Another 37.8% and 35.6%, respectively.
March figures to be a crucial month for gauging consumer interest in the 2025 housing market. The 10-year yield is all over the map this morning, ranging between 4.11% to 4.18% as the stock market sells off more and more money is going into bonds. First-time buyers dont have that problem.
A majority of agents believe 2025 is going to be a great year for the housing market. Around 85% have an optimistic outlook , and 70% believe the market will be more stable, according to a new survey from Clever Real Estate. It also discourages drop-ins, small talk and other unnecessary time-wasting behavior.
Rising housing inventory levels in 2024 may not be the positive sign of market health that they appear to be. Rising supply is one of the housing market highlights of 2024, according to HousingWire Lead Analyst Logan Mohtashami , who said that housing inventory is approaching levels seen in 2019 before the COVID-19 pandemic.
According to a new IPX 1031 survey, an estimated67% of Americans are worried about the real estate market in 2025. housing market, such as the need to carefully negotiate high borrowing rates and agent commissions. In 2025, over half (47%) will not be able to afford to purchase a home.
The luxury real estate market is on a growth trend early in 2025. Buyers and sellers alike continue to rely on the expertise of Sothebys International Realty agents to successfully navigate an ever-changing market and achieve their real estate goals, White said. sales volume increased 9.4% year over year. In the U.S.,
Buyers, sellers and practitioners in the housing market pay close attention to the headlines that emerge from various changes in market activity, and sometimes those headlines can lead to fear. in 2025, but this could change. Bush Presidential Center. And so the data is the antidote to fear.
More buyers have entered the market as the economy continues to add jobs, housing inventory grows compared to a year ago, and consumers get used to a new normal of mortgage rates between 6% and 7%. The main constraints in the housing market have been inventory and affordability, Sturtevant said. from October to 4.15
Inventory fell There are 635,000 single-family homes unsold on the market now. fewer homes on the market that a week ago. In those times, we just had far more buyers than sellers. Thats not true now, so we should expect inventory to begin building for the year in February 2025. million in 2025.
This suggests that completed foreclosure auctions may also slightly increase in Q1 of 2025, according to new Auction.com data. Election results should create a better market going forward, wrote one survey respondent. The remaining 54% of respondents stated that their inclination to purchase was unaffected by the election results.
Describing the modern-day mortgage market as challenging would be an understatement, to say the least. The average rate throughout 2024 for 30-year fixed mortgages was 6.72% higher than it was during the 2008 market crash. It reflects another pressing issue of imbalanced supply and demand in the housing market.
Pending sales activity had been higher in October and November, and there was some growing optimism that the 2025 housing market could start out strong. However, with mortgage rates rising in December and pushing above 7% in January, buyers and sellers are hesitant. Sturtevant said in a statement. Sturtevant said in a statement.
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