This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Strictly Necessary: Used for the proper function of the website
Performance/Analytics: Used for monitoring website traffic and interactions
Demand for “have-it-all” properties and the “forever dream home” will shape this spring’s luxury housing market, according to the Coldwell Banker Global Luxury 2024 Mid-Year Trend Report , which forecasts growing optimism among affluent consumers and an influx of desirable inventory. Among specialists, 32.8% elections. “A
Key Findings: Although average mortgage rates are much higher, 45% of buyers who have purchased a home in the past year report having a rate below 5%. The most common way buyers have secured below-market rates is through special financing offers from sellers or home builders.
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.
The role of the real estate agent has been under the microscope of late as a result of class-action litigation over agent commissions, but the feedback agents want most about their practices comes from two sources — home buyers and sellers. Help negotiating with buyers registered at just 13%.
“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. .”
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.
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 the last few months, the market finally saw some sales growth over the previous year.
As more properties came ontothe market and overall inventory increased for the 17th consecutive month, the U.S. housing market showed signs of a sustained recovery this spring, according to Realtor.com s March Housing Trends Report. Were seeing a market thats rebalancing, offering more choices for shoppers. Key Highlights U.S.
Despite rising costs , there are signs that more house hunters are reentering the market as spring begins. However, some buyers appear to be adapting. Redfin agents report that buyers who can afford to purchase are acting now before costs rise further. Home sale prices have climbed 3.4% New listings rose 12.7%
Harrisburg, Pennsylvania, was ranked as the top city in the 2025 Realtor.com Best Markets for First-Time Homebuyers report, followed by Rochester, New York; Villas, Florida; Lauderdale Lakes, Florida; Altamonte Springs, Florida; Lansing, Michigan; North Little Rock, Arkansas; Baltimore; Tonawanda, New York; and Wilmington, Delaware.
Despite the frequency of departures, real estate agents in the state say the housing market remains strong. On the balance, there are still more buyers with their eye on a purchase than there are houses on the market. Statewide, the housing market has a 90-day average Altos Market Action Index score of 44.18
Stubbornly high interest rates, low levels of inventory and elevated home prices are putting a strain on the often-limited budgets of first-time buyers. Despite the initial concerns, many industry professionals say first-time buyers are currently faring no worse than other buyers — for now, at least.
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.
Florida was one of the hottest destinations during the pandemic, but the states housing market might be coming down to earth. Redfin agents in the state say that its now a buyersmarket where sellers have to make concessions to bring buyers to the table. year over year. year-over-year jump. Lucie and the Villages.
From rates bordering the 7% range, to record high home prices, many home buyers are sitting on the sidelines waiting for a seismic change to hit the U.S. housing market. New data from LendingTree shows that among those active in the market last year, first-time buyers received a larger share of offers than those who already own.
Zillow anticipates a more active housing market with more buyers obtaining the upper hand in 2025. More inventory should shake loose in 2025, giving buyers a bit more room to breathe.” As the market gradually recovers, 2025 should bring more sales and relatively moderate increases in property values. Zillow predicts 4.3
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. I do not think this trend will go away overnight, even with mortgage rate stability and new inventory in the market. HW: Lets dive into some demographic shifts.
Realtor.com has revealed its Top Housing Markets for 2025 , highlighting the areas ready for growth in the year ahead. This years list highlights markets characterized by moderately affordable homes, strong inventorymainly boosted by new constructionand a sizable base of younger families, many with military and international connections.
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?
Higher prices, higher mortgage rates and limited inventory are making for a slow market among buyers and sellers alike. Price growth is slowing down so there’s less flippers in the market. Home sales in 2024 have been well below historic norms. But even investors have purchased fewer homes this year. Same with the iBuyers.
On Tuesday, the firm launched Compass Resort, a network for agents in vacation-home markets and clients searching for second homes. “We’re excited to introduce a new level of service for second-home buyers and their agents,” Karlinski, a Compass agent in Aspen, Colorado , said in a statement.
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.
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.
Pent-up demand caused the housing market to flare up in February, but as buyers wait for more inventory, it has cooled off in March, according to Josh Felder, a Redfin Premier real estate agent in the Bay Area. Compared to before the outbreak, the market still seems less active. percentage points from the previous year.
housing market has shown signs of slowing, demand remains strong in key Midwest and Northeast cities, where homes are selling weeks faster than the national average, according to Realtor.com s Hottest Markets Report for February. There’s still a lot of first-time homebuyers in the market too. They keep the market healthy.
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. A lot is happening in the housing market right now.
A month after launching its new Private Exclusive Listings (PX) feature, agent-driven offer, negotiation and collaboration platform Final Offer has acquired Private Collection , a source of listing information for off-market properties. Financial terms of the deal were not disclosed.
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. Many are also viewing renting as a longer-term lifestyle.
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. Indianapolis has an affordable housing market that will make it attractive. Two markets in the Northeast also stand to flourish.
Budgeting, Buyers Remorse and Bills More than two-thirds (69%) of homeowners regret their home and the related costs, and 4 out of 5 (81%) say their spending was higher than they had expected. The post Non-Mortgage Homeownership Costs Shock First-Time Buyers first appeared on The MortgagePoint.
Weve now been in the post-pandemic housing market recession market as long as we were in the pandemic boom. Does the housing market start to get back to normal? The number of unsold homes on the market is finally getting closer to 2019 levels. But, the market change isnt evenly distributed. Two and a half years.
The housing market got some much needed relief in the fall when mortgage rates began to drop, but it was short lived. The turbulence in rates has trickled down to individual markets like Cincinnati, where real estate agents say they dont know what to expect from sale to sale. A substantial drop in new listings is a contributing factor.
housing market remains challenging for prospective buyers as concerns over mortgage rates , home prices and affordability persist in 2025. With affordability shrinking, buyers are taking more risks to secure homes, according to HomeLight s 2025 Lender Insights & Predictions survey.
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.
Stats are the fuel to the fire of the real estate market and will make you exude confidence in conversations with potential clientsmaking them feel confident in hiring you to represent them. This proves your expertise to clients and allows you to provide them with knowledge about the real estate market.
Despite their potential to draw in vandalism and spread community blight, zombie foreclosures continue to have little to no effect on the majority of local housing markets. That phenomena is still one of the many long-lasting consequences of the 13-year-old housing market bubble that has occurred across the country.
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.
While the current focus is rightfully on containing the blazes and protecting residents, its worth taking stock of where housing markets stand in the affected parts of the Los Angeles metro area. LAs housing market has largely stabilized after the turbulence of the post-pandemic years and the rapid rise of mortgage rates beginning in 2022.
Under the National Association of Realtors (NAR) new Multiple Listing Options policy, the trade group is allowing listing agents, with the signed consent and direct permission of their seller client, to delay publicly marketing a listing through Internet Data Exchange (IDX) feeds and syndication.
In its 2025 Industry Survey , Redfin dug deeper into how real estate agents view their careers, the housing market, and other hot-button industry issues. The 2025 Industry Survey highlights the opportunities and challenges agents see in this evolving market and the increasing pressures brought on by economic uncertainty and industry reforms.
job market performed better than expected in November, gaining 227,000 nonfarm payroll jobs from a month prior according to data released Friday by the U.S. There have been signs that the labor market was cooling some, which could give the Fed confidence to go ahead with another rate cut this month.
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. Our reach and strategic expansion into key markets in the U.S.
As mortgage rates fluctuate based on decreasing housing inventory volume, the appraisal market is more volatile than ever in key areas such as urban and rural communities states like California and Texas. Jaro stands tall as the only end-to-end appraisal platform on the market. This trend had a profound impact on the housing market.
As market conditions evolve, homebuyers demand more than just rate quotes and loan approvalsthey seek guidance, financial literacy, and a trusted partner in wealth-building. Understanding todays mortgage market challenges 1. Mortgage professionals who embrace this shift will thrive in the evolving market.
We organize all of the trending information in your field so you don't have to. Join 9,000+ users and stay up to date on the latest articles your peers are reading.
You know about us, now we want to get to know you!
Let's personalize your content
Let's get even more personalized
We recognize your account from another site in our network, please click 'Send Email' below to continue with verifying your account and setting a password.
Let's personalize your content