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All the housingmarket data for 2024 is in, and its fair to say that the housingmarket 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. fewer than a week prior.
housingmarket is anything but stable right now and residents are feeling it. housingmarket using weekly data from Altos, which includes more than 60 different data points on every metro area in the country, to see how employment is changing the housingmarket. ’s job market. housingmarket.
Despite the frequency of departures, real estate agents in the state say the housingmarket 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 housingmarket has a 90-day average Altos Market Action Index score of 44.18
Weve now been in the post-pandemic housingmarket recession market as long as we were in the pandemic boom. Does the housingmarket 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.
housingmarket 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 just so many people here that are still looking for houses, Bradford said.
What will the housingmarket look like in 2025? For a more comprehensive look, read our 2025 HousingMarket Forecast covering home prices, home sales volumes and more. Housing inventory There are now 722,000 unsold single-family homes on the market around the U.S. of the homes on the market.
Its hard to imagine something more disruptive to a housingmarket than a hurricane. 9, housingmarkets in the Tampa area came to a complete halt as sellers took their homes off the market. 9, housingmarkets in the Tampa area came to a complete halt as sellers took their homes off the market.
Despite 2025 housingmarket 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.
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 housingmarkets. That phenomena is still one of the many long-lasting consequences of the 13-year-old housingmarket 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. more than a year ago.
If youre thinking about buying or selling a house and wondering about the housingmarket, 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!
The housingmarket 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. It’s just become a more common theme.
Home sellers who did not list their properties on the MLS lost out on more than $1 billion in sale proceeds over the past two years, according to a study published Monday by Zillow. In 2023 and 2024, Zillow found that sellers who chose not to list on the MLS typically lost out on nearly $5,000, selling their property for 1.5%
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.
Last year, spring home sellers who put their house up for sale in the second half of May were able to get the most money for it. Sellers can list their house when the most buyers are seeking by focusing on late spring. Sellers might demand a greater price when there is competition among buyers for property.
Zillow anticipates a more active housingmarket 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. With more properties available to buyers, sellers will be under pressure to compete. Zillow predicts 4.3
While the current focus is rightfully on containing the blazes and protecting residents, its worth taking stock of where housingmarkets stand in the affected parts of the Los Angeles metro area. Data from Altos Research shows an area with expensive housing, rising inventory and conditions that lean favorable to sellers.
The stagnant 2024 housingmarket is one the real estate industry cant wait to get away from, but not so for the niche luxury market. Elevated mortgage rates have stymied the broader housingmarket in 2024, but the luxury segment is somewhat insulated from that because wealthy buyers are less likely to need a mortgage.
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.
That’s 12% more sellers than a year ago. It seems more sellers are coming out every week and that will keep inventory pushing upward. Those scenarios are possible, and its going to be fascinating to see how the bond markets react to new administration policies. Sellers are up, but sales are down.
Data from Altos Research shows that higher mortgage rates aren’t necessarily keeping sellers from listing their homes. While the Fed’s policy rate range of 4.75% to 5% is lower than where it was for the past year, it is still much higher than what many market observers consider a neutral rate needed to spur borrower demand. “We
Redfin agents say would-be homebuyers and sellers in the Palisades and Altadena have adopted a wait-and-see approach. Many homeowners kept their homes off the market because they were worried values would diminish, and some house hunters canceled contracts because they were nervous about insurance costs and potential future fires.
The share of homes on the market with price reductions ticked up this week, which is unusual this early in the season. Potential home sellers notice weak demand, fewer offers and price reductions, prompting them to back away from the market. As such, housing inventory isn’t shrinking. Take a look at the chart above.
Home Sales Report , which shows that home sellers made a $122,500 profit on typical sales nationwide in 2024, generating a 53.8% Margins fell back as the increase in home values failed to keep up with larger price spikes recent sellers had been paying when they originally bought their homes. ATTOM has released its Year-End 2024 U.S.
The surge in first-time homebuyers during 2020 has led to a new trend: first-time home sellers. Many who bought during the pandemic are now rethinking their decisions, citing changing lifestyles, financial miscalculations, and shifting market conditions, according to new data from Opendoor.
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. The survey also shed light on the different methods by which agents are marketing homes for sale.
It’s great news that 2024 performed better than the 2023 housingmarket. Seeing more buyers and sellers able to participate is absolutely what we want to see. Let’ get into it. Skim quickly by topic or digest slowly.
Inventory of unsold homes on the market ticked down fractionally this week. As inventory builds and, as there are fewer offers from homebuyers , more sellers feel the need to reduce the asking price of the homes for sale. Looking backward at the housingmarket , we can see sales prices are not appreciating compared to 2024.
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.
The market is not great, so we aren’t often dealing with multiple-offer situations. And it is a little bit early, but some of the preliminary data I have looked at show that sellers are continuing to pay buyer agent compensation.” I think ultimately, though, sellers should be looking at their net (profit).
Florida was one of the hottest destinations during the pandemic, but the states housingmarket might be coming down to earth. Redfin agents in the state say that its now a buyers market where sellers have to make concessions to bring buyers to the table. year over year. year-over-year jump. Lucie and the Villages.
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 housingmarket in 2025. Jeff, I’ll start with you.
California law generally prohibits charging a price that exceeds, by more than 10%, the price a seller charged for an item before a state or local declaration of emergency, the alert stated. This law applies to those who sell food, emergency supplies, medical supplies, building materials, and gasoline.
The housingmarket is heating up, but it’s not blazing hot. UPCOMING SPEAKING GIGS: 1/31/25 Prime Real Estate […] The post The housingmarket is warm. UPCOMING SPEAKING GIGS: 1/31/25 Prime Real Estate […] The post The housingmarket is warm. Let’s unpack that today. Any thoughts?
But that only represents part of how consumers feel about market conditions. Higher mortgage rates and home prices are still keeping many buyers and sellers away from the market, according to Fannie Mae. The share of respondents who believe it’s a good time to sell a home remained unchanged from December at 22%.
What can we expect ahead for the housingmarket? Today, I have three quick points, and while these visuals are specific to my area, some of the language use can be used in many different markets. What’s January going to be like in 2025? This is my last blog post of 2024.
Existing home sales ended the year on a positive note , which aligns with our weekly HousingMarket Tracker data, but something surprising is that home prices firmed up late in the year as well. However, housing demand surged when mortgage rates fell in the early 1980s during a recession. Also, the monthly supply is 3.3
Fluctuating interest rates have been a feature of the housingmarket over the last three years. Our 2025 housingmarket predictions are based on the assumption that lower mortgage rates will spur demand and boost the number of homes sales transactions. There were nearly 7% more sellers last week than the week prior.
The housingmarket in 2024 was about as frustrating for the real estate industry as you can imagine. Its a stunning number given how bad the market was in the years after the financial crisis in 2008. In the current climate, homebuilders have advantages over existing-home sellers. According to U.S.
Demand for “have-it-all” properties and the “forever dream home” will shape this spring’s luxury housingmarket, 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
A large majority of homeowners (88%) have concerns about selling their homes, with financial uncertainty and housingmarket conditions ranking among their top fears, according to a recent survey by Clever Real Estate. These markets also have larger supplies of homes, with about 3.5
housingmarket. more homes on the market now than a year ago. By the end of May there were 38% more homes on the market than the year prior. California and Arizona have 45% more homes unsold on the market now than a year ago. Texas only has 31% more homes on the market. There are 28.7% Thats next spring.
It’s still April, so there could be as many as eight more weeks of seller growth in the spring housingmarket. And seller growth is happening pretty much everywhere across the country, with Florida and Texas leading the way. The bearish take is that there are many more sellers than buyers and inventory is rising.
The spring housingmarket is still trying to spring. There are plenty of weak signals in the housingmarket, of course. There are plenty of weak signals in the housingmarket, of course. The unsold inventory of homes on the market across the country is 28% greater than last year at this time.
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