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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 the last few months, the market finally saw some sales growth over the previous year.
Today, the BLS jobs report showed that the labor market is getting softer, but it’s not breaking. However, there is a limit to the downside on mortgage rates until the labor market breaks, or we get more than 1% rate cuts from the Fed. 14, we’ve seen them move lower. In the coming months, we will see if the U.S.
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!
rental market has become more competitive than ever, driven by a combination of rising demand, limited availability due to a lack of new rental housing supply, and regional economic pressures. A market under pressure: rising rents nationwide Rental prices across the U.S. Los Angeles: A case study in market strain On the other U.S.
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.
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.
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.
ATTOM has released its latest Special Housing Risk Report , spotlighting county-level housing markets around the nation that are more or less vulnerable to declines, based on home affordability, equity, and other measures in Q4 2024. Less-vulnerable markets were clustered in various other areas of the Northeast, Midwest, and South.
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.
housing market is anything but stable right now and residents are feeling it. housing market 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 housing market. ’s job market. more homes on the market than 2024.
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.
As housing affordability reached its lowest point since 2006, one group stood out in defying market trendssingle women. A Growing Market Force With increasing education levels, rising incomes, and financial discipline, single women are proving to be a resilient and growing force in the housing market. housing trends.
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.
As the housing market grows more competitive, rental scams are adding financial and emotional strain to renters nationwide. Common tactics include promoting desirable locations (57%), below-market prices (55%), and immediate availability (52%). According to Rentlys Rental Scams and Fraud Report , 93% of U.S.
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.
Homebuyers have become older and wealthier Young people are having a particularly hard time in the housing market. As home prices climb further and further out of reach, first-generation homebuyers trying to break into the market must rely on increases in their earnings to increase their buying potential.
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 We are at recessionary levels for housing permits for five-unit housing. With mortgage rates back above 6.5%
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.
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.
There will absolutely be increased pressure on the housing market as we come out of the wildfires that we’re seeing now, and that will be particularly difficult for rental properties, Brugger said.
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.
And now people are moving to these safe, family-friendly havens not just for the peace and quiet, but for the strong job markets as well. A considerable number of movers want to live near a thriving job market that can support them should they lose a remote job. people searching to move in for every one looking to leave.
housing market particularly its levels of affordability, available inventory and accessibility for those with mobility or cognitive challenges presents a unique challenge for older Americans on fixed incomes. The state of the U.S. This has led to a failure to properly serve the senior cohort.
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. What Regional Markets Are Gaining Momentum? The areas median sale price increased 5.1% The post How L.A.s
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.
The duo explore Anywhere’s resurgent focus on the luxury market, increasing M&A opportunities, and the value of embracing change. We invest disproportionately in luxury markets. The fact that we were able to outperform the market substantially throughout 2024 was an awesome thing.
housing market remains challenging for prospective buyers as concerns over mortgage rates , home prices and affordability persist in 2025. I believe the concerns for the market at this point are dramatically related to geographics. Dont obsess with finding the perfect first home.
Luxury Presence has introduced Private Listings Hub, an invitation-only platform designed to help real estate agents promote off-market and pre-market listings with greater control and discretion. Agents can control listing visibility, filter buyer matches and receive notifications for relevant off-market opportunities.
I have tried being a solo agent, team, and everything in between, but lets face it the market is tough right now. Instead of trying to handle everything alone, Ive leaned into collaboration mode leveraging alliances with other agents for showings, structuring the team differently, and even pooling resources for marketing.
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.
Earlier this year, when mortgage rates soared to 7.26%, a cloud of worry hung over the housing market many feared that home sales would tumble in 2025, fueled by concerns about inflation and tariffs. This unexpected turn of events breathed new life into the market, pushing purchase application data into positive territory for the year.
A large majority of homeowners (88%) have concerns about selling their homes, with financial uncertainty and housing market 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
The 10-year yield and mortgage rates have been on a wild ride lately, even testing my top-end forecast at 7.25%, but today, the 10-year yield fell after remarks by Fed President Chris Waller about whether the Fed would do even more rate cuts than the market was anticipating. It’s not booming. It’s not falling.”
Californians deserve a reliable insurance market that doesnt retreat from communities most vulnerable to wildfires and climate change , Lara said in a statement. My Sustainable Insurance Strategy is focused on addressing the challenges we face today and building a resilient insurance market for the future.
housing market. 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% California and Arizona are.
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.
The spring housing market is still trying to spring. There are plenty of weak signals in the housing market, of course. There are plenty of weak signals in the housing market, of course. The unsold inventory of homes on the market across the country is 28% greater than last year at this time.
The housing market 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. Whether 2025 will be a better market depends on who you ask. According to NAR, existing-home sales finished 2024 at a dismal 4.06
Fluctuating interest rates have been a feature of the housing market over the last three years. Our 2025 housing market predictions are based on the assumption that lower mortgage rates will spur demand and boost the number of homes sales transactions. How will the housing market change as these economic assumptions change?
Existing home sales ended the year on a positive note , which aligns with our weekly Housing Market Tracker data, but something surprising is that home prices firmed up late in the year as well. That situation is not present in todays housing market as active inventory is almost 1 million, not 4 million like in 2007.
The bond market and stock futures rose when the initial discussions about the 10% tariffs hit the market. Over the next two days, we will observe how the market reacts to this news and anything that happens over the weekend. Well dive deep into the potential implications for the housing market in the coming year.
housing market slowed down in the third quarter due to rising home prices and higher mortgage rates , investor purchases also ramped down, according to a new report by Redfin. ” Low-priced homes — those priced in the bottom one-third of their local market — comprised 45.7% As the U.S. Now there’s a middle ground. Miami saw a 19.4%
percent)* above the November 2023 estimate of 611,000 The charts below provide insight into the current state of the new home sales market. Unlike the existing home sales market which is working from record lows, the new home sales sector never had that massive decline, so the bar is higher here. percent (18.6 percent (19.3
Most housing market analysts expect mortgage rates to spend the year with a 6 handle. The bond market got spooked and mortgage rates jumped back over 7%. At the time, most mortgage market observers expected that rates had reached their peak and would generally decline in 2024, stabilizing at perhaps 6% or lower by now.
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