JANUARY 2025
REAL ESTATE MARKET UPDATE
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Home Prices Remain The Housing Market's Biggest Mixed Blessing
Home prices remain a mixed blessing, with local appreciation rates over 4.5% and nationwide between 4% to 7%. This raises sustainability concerns, especially when comparing home value growth to income growth. Despite stable interest rates since December, affordability is still a major issue. The Federal Reserve's rate adjustments impact mortgage rates indirectly but don't control them directly.
The housing market appears normal, with recurring discussions about pricing and affordability. December's market trends showed an increase in active listings and pending sales, indicating a robust market. Consistent patterns in existing and new home sales suggest market stability. Monitoring mortgage rates and inventory levels will be crucial for anticipating future growth and opportunities in the housing market.
Home prices remain a mixed blessing, with local appreciation rates over 4.5% and nationwide between 4% to 7%. This raises sustainability concerns, especially when comparing home value growth to income growth. Despite stable interest rates since December, affordability is still a major issue. The Federal Reserve's rate adjustments impact mortgage rates indirectly but don't control them directly.
The housing market appears normal, with recurring discussions about pricing and affordability. December's market trends showed an increase in active listings and pending sales, indicating a robust market. Consistent patterns in existing and new home sales suggest market stability. Monitoring mortgage rates and inventory levels will be crucial for anticipating future growth and opportunities in the housing market.
NWMLS Market Snapshot - DECEMBER 2024
George Moorhead of Bentley Properties talks about Inflations Causing Rates To Go Up and Is The Real Estate Market Crashing? Plus, Top 5 Things You Need To Look For When Getting Mortgage Rates
