Found 4 blog entries tagged as Housing Market Updates.

Zillow Downgrades 2025 Home Price Forecast

Zillow has revised its U.S. home price forecast via ResiClub, now predicting just a 0.8% increase from February 2025 to February 2026, down from earlier projections of 1.1% and 2.9%. This reflects rising inventory levels nationally and ongoing affordability issues, which are dampening buyer demand. Zillow expects only 4.1 million existing home sales in 2025, significantly below pre-pandemic levels.

  • 2025 existing home sales projected at 4.1M, down from 5.3M in 2019.

  • Temporary spring sales boost expected, followed by a seasonal dip.

  • Single-family rents forecasted to rise 3.6%; multifamily rents up 2.5%.

  • Rents continue climbing, 3.6% for single-family homes,…

365 Views, 0 Comments

Read Full Post

Listings Are Up Nationally. Is Westchester Keeping Pace?

I launched this newsletter to bridge the gap between national headlines and local market trends. The saying “real estate is local” will always hold true. Nationally, the number of homes for sale increased by 24.6% in January compared to last year, marking the 15th consecutive month of growth, according to Realtor.com. While that’s encouraging news, the story is a little different here in Westchester County:

Westchester: Homes for Sale (YoY):

  • Single-Family: ↓ -20.4% (709 in ‘24 → 565 in ‘25)

  • Condominiums: + 4.7% (203 in ‘24 → 213 in ‘25)

  • Cooperatives: ↓ -6.8% (400 in ‘24 → 373 in ‘25)

The report also noted that newly…

504 Views, 0 Comments

Read Full Post

Will Housing Affordability Improve?

Housing affordability in the United States experienced a slight improvement last year, marking the first positive shift in four years. A household earning the median income of $83,782 would have allocated 41.8% of their earnings toward monthly housing costs for a median-priced home, a modest decrease from 42.2% in 2023. Despite this progress, affordability remains significantly strained compared to the 30% threshold commonly deemed manageable.

Ralph’s Take

Will housing affordability improve in 2025? It’s difficult to predict, but mortgage rates are likely to play a key role. In 2024, the average mortgage rate was 6.72%, a slight dip from 6.87% in 2023. While modest, this reduction…

353 Views, 0 Comments

Read Full Post

Summer Housing Market Remains in Limbo Despite Falling Rates

Last week, mortgage rates saw a slight dip, with the average rate for a 30-year fixed loan falling from 6.87% to 6.86%, according to Freddie Mac. Despite this drop, the persistently high rates have stalled the housing market, keeping both buyers and sellers on hold, reports Realtor.com.

Experts agree that the market is in a standstill. Bank of America economists noted that the housing market is "stuck," and they are skeptical it will gain momentum before 2026, if not later.

However, there is some optimism. Realtor.com’s Chief Economist Danielle Hale suggests that if the economy continues to improve, conditions for buyers could get better in the latter half of…

236 Views, 0 Comments

Read Full Post