Found 2 blog entries tagged as Market Forecast.

The Pandemic Buyer Ready to Drive 2025

Younger Americans who purchased homes during the COVID-19 pandemic are expected to be the primary home sellers in 2025 according to a Bright MLS survey. These homeowners, particularly those in their 30s and 40s, are motivated by family and career changes, despite current mortgage rates averaging above 6%. Many secured mortgages with interest rates below 4% during the pandemic and have accumulated significant home equity due to a 37% increase in national median list prices over the past five years. In contrast, only about 6% of homeowners aged 60 and above plan to sell in 2025, with the majority owning their homes outright and expressing little interest in moving.

Ralph’s Take

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Where the Market Is Heading by Year-End

The view from Sailhouse in Tarrytown

Realtor.com® 2024 Forecast Update predicts that home prices and inventory will end the year with gains. Inventory is expected to grow as sellers remain patient, waiting for buyers rather than delisting. Despite high mortgage rates, median home prices are forecasted to rise due to a resilient economy and limited supply. The mortgage lock-in effect is easing, contributing to the inventory increase, while mortgage rates are expected to decrease slightly, potentially boosting homebuyer activity in the latter half of the year.

Additional Projected Points:

  • Lower Rates Finally Arrive: Mortgage rates to average 6.3% by end of the year

  • Home Sale Prices Continue to Climb:…

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