Real Estate Blog

The U.S. housing market remains challenging, with rising home prices and high mortgage rates making it tough for first-time buyers and keeping many homeowners hesitant to sell. As we head into 2025, experts predict that while home appreciation will slow, prices aren’t likely to decline significantly. Let’s break down what this means for buyers, sellers, and renters in the year ahead. AI Generated photo A Quick Look Back at 2024 Home prices soared during the pandemic and dipped briefly between late 2022 and early 2023, giving buyers hope that the market might cool. However, by late 2024, prices had climbed back to near-pandemic levels. According to recent data: Redfin : The median sale price of a U.S. home in November 2024 was $430,010, up 5.4% year-over-year. Zillow : Typical home values reached $357,469, a 2.5% increase compared to the same time in 2023. This upward trend reflects ongoing challenges, such as a national housing supply shortage and buyers struggling with high mortgage r...

  The start of a new year always brings questions about where the housing market is headed, and 2025 is no exception. While the first quarter is typically a quiet time in real estate, this year might break tradition. Let’s dive into what the experts predict and how you can navigate the market in the coming months. Will Home Prices Drop? Not Likely. Despite the winter season, high demand and low inventory are expected to keep home prices steady. According to the National Association of Realtors (NAR), the median home price rose by 4.7% year-over-year in November 2024, reaching $406,100. While price increases may slow, significant declines are unlikely. Mortgage Rates: Slight Decrease, But No Major Shift Good news for buyers and sellers: mortgage rates may ease slightly in the first quarter of 2025. Experts predict the average 30-year fixed rate will hover around 6.25% to 6.5%. While not a dramatic drop, these rates could help stabilize the market and support steady activity. Invento...