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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. There are some signals that seller volume is starting to creep back to normal levels.
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.
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%
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
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.
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. Reduced rivalry between sellers: This week would have 13.2%
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? Supply growth could also come from more sellers, such as investors or distressed borrowers unloading. more sellers than the same week a year ago.
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. New listings One way reason it will be hard for inventory to grow more than 17% next year is that there are still not enough sellers to get there.
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. See what she had to say below and register today for the Housing Economic Summit on Feb. HW: What housing trends do you think will continue in 2025 and why?
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. This week, 33.9%
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.
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.
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.
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.
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! Is It a Buyers Market?
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.
Lets look at last weeks data and see if we can tease out the signals for impact on the 2025 housingmarket. Housing inventory It is December, of course, so inventory is falling for the season. There will be fewer homes on the market each week until February or so. Can there be too many homes for sale?
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. With the average U.S.
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.
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 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.
Zillow anticipates a more active housingmarket with more buyers obtaining the upper hand in 2025. In 2025, Zillow projects that buyer markets will expand to the Southwest as inventory continues to become stranded in reasonably priced cities. With more properties available to buyers, sellers will be under pressure to compete.
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.
Higher prices, higher mortgage rates and limited inventory are making for a slow market among buyers and sellers alike. Home sales in 2024 have been well below historic norms. Real estate investors tend to be more insulated from these dynamics, particularly from mortgage rates, as they are more likely to buy properties with cash.
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. We regard this metric, the percentage of homes on the market with price reductions from the original list price, as a leading indicator for future sales prices. There are 27.7%
Data from Altos Research shows that higher mortgage rates aren’t necessarily keeping sellers from listing their homes. The 15-year conforming rate has increased even more sharply since the Fed’s decision, rising from 5.7% 18 to 6.15% on Tuesday. For-sale inventory of single-family homes is up 33% from a year ago.
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.
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
A major economic downturn (29%) is the most reported reason sellers would delay their plans, while a property tax increase (43%) would be the biggest motivator to expedite selling. !function(e,n,i,s){var For those in slower markets, patience may be required, while in fast-moving areas, sellers could still find strong demand.
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.
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. She highlighted wealthy buyers as the driving force behind last year’s growth in the luxury market.
The housingmarket in 2024 was about as frustrating for the real estate industry as you can imagine. Thats the highest share for new sales since 2005, which was during the building boom driven by cheaper housing, looser credit requirements and high demand for mortgage-backed securities. million and Bright MLS expecting 4.4
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?
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
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%.
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).
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.
housingmarket. more homes on the market now than a year ago. New listings To get a lot of homes on the market though we need some sellers. In total, it was another week with fewer home sellers that last year. Its hard to grow inventory too much when there arent many sellers. There are 28.7%
The majority of homebuyers are still expecting sellers to cover their agent’s compensation, according to The Real Brokerage ’s August 2024 agent survey. While it appears that most sellers are still offering some level of compensation, 12% of agents reported they were still unsure of what the emerging trend will be. 30 and Sept.
While inventory of unsold homes in the housingmarket in each of the last two years headed higher during September and October due to mortgage rate spikes, we’re seeing a more normal seasonal pattern now with inventory beginning to decline. We’re also seeing more home sellers withdrawing their listings to try again next year.
All the dominant trends in the housingmarket this year seem like they would indicate home prices declining. With just a few local market exceptions, home prices nationally will finish the year up again and will go into 2025 with some upward momentum. The median price of all the homes on the market is $439,000.
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.
Pending sales activity had been higher in October and November, and there was some growing optimism that the 2025 housingmarket 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.
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