What You Need to Know about the 2025 Real Estate Market
Everyone wants to know what the market is going to look like as we enter into the new year of 2025. While no one can truly predict what the market will do, experts are seeing some trends that will change the market.Here’s what you can expect in 2025:
1. Lower Mortgage Rates: This is a huge win for buyers and makes home ownership that much more affordable! We’re already seeing interest rates come down, but they are expected to decrease even more. Lower mortgage rates make it easier for buyers to qualify for loans and afford higher-priced homes. Plus, they make for lower monthly payments, which can make home ownership more accessible for more buyers.
2. Increased Supply and Demand: As mortgage rates decline, more buyers will enter the market because they’ve been waiting for this moment! This will lead to increased demand that will encourage sellers to put their homes up for sale. As a result, we’ll see a fast-moving, but balanced market.
3. Increased Home Sales: The combination of lower mortgage rates and increased supply and demand will drive up the number of homes that are sold. This is a sign of a very active market, which can help buyers and sellers with more opportunities. However, it can also lead to increased competition and bidding wars.
4. Slight Increase in Home Prices: While home prices are expected to increase slightly (around 2.6% nationally) as a result of more buyer competition, the exact rate may vary depending on local market conditions. It's important to consult with a local real estate agent to get a more accurate picture of your specific location.
If you've been waiting for a more active market to sell your home, or if you’re one of those buyers waiting for interest rates to come down, your time to enter the market is coming soon!
Now is a great time to start preparing for the market of 2025. By staying informed and working with a knowledgeable real estate agent, you can make informed decisions and achieve your real estate goals.
Want to get started? Just reach out and let's chat!
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