National Real Estate News
A little pick-me-up
There was definitely a bit of pick-up in homebuying activity in the last quarter of 2024, as falling mortgage rates (May-September) and rising inventory (+20-30% year-over-year) improved both choice and affordability. Sadly, that may have come to an end with the recent sharp rise in mortgage rates. [Source: NAR]
Up and up
With Fed members having lowered their expectations for rate cuts in 2025 from four to just two, and limited recent progress getting inflation down, average mortgage rates have been grinding higher. And with the spring selling season around the corner, the timing is far from ideal. [Source: Federal Reserve]
Time for a change?
Life happens and circumstances change. If you're feeling dissatisfied with your current home or its location, the start of the year is a great time to reassess your wants and needs! I can help you formalize your preferences, think about your budget, explain the local supply/demand dynamics, and keep an eye out for listings that match your needs.
Local Market Trends
As of Friday, January 10, 2025
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