BiggerPockets Daily Housing Rebound? What December's Data Says About the Year
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Jan 10, 2025 The podcast delves into the recent shifts in the real estate market, noting declines in home prices across nearly 60 major cities. While some areas face challenges, others remain resilient or even appreciate. With rising inventory and longer days on market, the need for targeted investment analysis is emphasized. The discussion also highlights the Federal Reserve's interest rate changes and their impact on market dynamics. Insights into potential opportunities and predictions for a possible mid-year recovery make for an engaging listen!
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Price Declines in Winter Months
- 59 major US markets saw price declines between December 2023 and December 2024.
- This is partially due to typical winter seasonality, but the decline was larger than usual.
Examples of Declining Markets
- Salt Lake City, Fort Wayne, and Raleigh experienced price drops, while Tulsa and Huntsville also declined.
- Raleigh's decline is attributed to increased new construction, not market weakness.
Days on Market Increase
- Increased days on market in most analyzed areas indicates waning demand and oversupply.
- This metric helps determine whether a market favors buyers or sellers.