Skylar Olsen, Zillow's Chief Economist, provides expert insights into the housing market's upcoming shifts. She predicts a year of fluctuating mortgage rates, with potential challenges for buyers amidst rising home costs. The conversation highlights a move toward smaller living spaces as affordability drives preferences. Skylar shares strategies for navigating this volatile market and emphasizes the importance of understanding local trends for smarter real estate decisions. She even touches on evolving retiree migration patterns impacting housing choices!
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insights INSIGHT
2024 Housing Market Overview
Homebuyers faced a surprisingly competitive 2024 market due to high mortgage rates and low inventory.
Affordability remained stable due to consistent wage growth matching home price increases.
insights INSIGHT
Mortgage Rate Predictions
Predictions of lower mortgage rates in 2024, particularly the "year of the fives," largely didn't materialize.
The fluctuating nature of inflation and economic data made it difficult to predict rate decreases with certainty.
insights INSIGHT
Rental Market Strength
The rental market's strength in 2024, despite increased apartment construction, was surprising.
High demand from potential homebuyers, driven by affordability challenges, fueled rental market competition.
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Byron Lazine, Lisa Chinatti, and Tom Toole chat with Zillow's Chief Economist, Skylar Olsen, about the housing market's future. They recap 2024's steady rates and costs, explore 2025 predictions, and discuss hotspots like Miami and Charlotte. Skylar shares tips for navigating this shifting landscape and making smart, resilient moves in real estate!
𝐁𝐞𝐜𝐨𝐦𝐞 𝐚 𝐦𝐞𝐦𝐛𝐞𝐫 𝐨𝐟 𝐁𝐀𝐌𝐱: https://bamx.uscreen.io/pages/subscribe
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Resources:
https://www.zillow.com/research/2025-housing-predictions-34620/
https://nowbam.com/2025-housing-market-predictions-steal-these-4-charts-to-guide-your-clients/
Timestamps:
00:00–01:01 Intro
01:01 Zillow’s housing market predictions for 2024–and 2025
02:57 Mortgage rate expectations (“year of the 5s” & where did things go wrong)
07:43 What surprised you the most about how things actually shook out in 2024?
18:43 “A lot of people are going to return to ‘smaller living’.”
20:51 Byron runs a script by Skylar (the 2 ways to get a sharp decrease in mortgage rates)
25:51 Skylar’s biggest takeaway for sellers
29:55 “What I hear you saying loud and clear is it’s going to be a skills-based market.”
52:48 What homeownership means to Skylar
Connect with Byron Lazine: https://www.instagram.com/byronlazine
Connect with Tom Toole: https://www.instagram.com/tomtoole3rd/
Connect with Lisa Chinatti: https://www.instagram.com/lisachinatti/
Connect with Skylar Olsen: https://www.instagram.com/skylars_home_economics/
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