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Weak demand is forcing more home sellers to reduce their asking price (2/3/25 Market Update)
Feb 4, 2025
The podcast dives into the latest U.S. housing market trends, highlighting an intriguing rise in price reductions as demand wavers. It explores how sellers are responding to a drop in buyer interest and examines current median home prices. Future implications of government policies on mortgage rates and the economy are also discussed. Additionally, the show offers insights into early 2025 trends, focusing on inventory levels and potential seasonal buying patterns that could influence market dynamics.
15:21
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Quick takeaways
- Weak home buyer demand has led to an increase in price reductions, with 33.1% of homes on the market experiencing price cuts.
- The fluctuation in unsold home inventory suggests a complex market that could face challenges unless mortgage rates stabilize.
Deep dives
Weakness in Home Buyer Demand
Recent data indicates a significant weakness in home buyer demand, which is reflected in the current housing price trends. Home price appreciation has essentially stagnated, showing barely positive results compared to the previous year. Price reductions have increased slightly, with 33.1% of homes on the market experiencing price cuts, marking a rare uptick for this time of year. This situation is unusual, as typically, price cuts decline during January, especially with new inventory entering the market and more buyers beginning their search.
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Listen to the best highlights from the podcasts you love and dive into the full episode