Top of Mind More Home Sellers, Fewer Sales (1/13/25 Market Update)
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Jan 14, 2025 The podcast digs into the current U.S. housing market, highlighting a surge in single-family home listings. Rising mortgage rates are shaking up buyer activity, while recent disasters in California further complicate dynamics. Analysts predict interesting changes in supply and demand as the market evolves. The data-driven insights provide a clear picture of future trends, leaving listeners with a deeper understanding of what to expect.
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Increased Home Listings
- 45,000 new single-family home listings this week represents a 12% jump.
- This increase in sellers aligns with a predicted 2025 trend.
Mortgage Rates Surge
- Mortgage rates reached 7.25%, the high end of the 2025 forecast, in just two weeks.
- Simonsen anticipates rates falling closer to 6% later in the year with potential policy impacts.
Los Angeles Fires Impact
- The Los Angeles fires' impact is being monitored, although it's too early to see data changes.
- Limited inventory in California, especially high-value homes, may lead to wider market impacts.