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The two big housing market trends to watch in 2025

Housing Wire

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.

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Housing market data positive despite Powell’s Grinch act

Housing Wire

Federal Reserve Chairman Jerome Powell played the Grinch last week for the housing market, sending mortgage rates higher after his remarks at the Fed presser on Wednesday. This positive trend suggests that despite the typical slowdowns, the housing market is showing some promising resilience as we head toward the end of the year!

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Mortgage rates remain high due to labor market resilience

Housing Wire

The labor market is showing signs of softness but is not breaking down yet, which has kept mortgage rates higher for longer. Since 2022, my guiding principle has been that the labor market is more important than inflation in determining mortgage rates. Again, the theme holds: the labor market is getting softer but not breaking.

Marketing 478
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One mortgage lender abandons the Florida condo market

Housing Wire

In particular it’s created a glut of 30-plus-year-old units on the market, with few takers. One Florida mortgage broker said the Provident exit gave him “a feeling that we will see other major lenders exiting the condominium market in Florida.

Marketing 524
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Surging for-sale inventory turns Florida into a buyer’s market

Housing Wire

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 buyers market where sellers have to make concessions to bring buyers to the table. Eight of Floridas metropolitan markets have record-high active listings.

Inventory 360
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Investor purchases are sinking with the housing market at large

Housing Wire

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.

Investors 448
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Tight inventory is challenging Illinois’ ‘steady Eddie’ housing market

Housing Wire

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 as of Jan.