Thanksgiving isn’t just about turkey and pie—it’s also when someone is bound to ask me, “So, how’s the housing market?” That happens at just about every social occasion. Here are some questions & answers that should be helpful for anyone curious about real estate.
- When Will Mortgage Rates Come Down?
Nobody knows for sure, but experts expect rates to start easing in 2025 if the economy keeps improving. Right now, rates are unpredictable due to things like inflation and jobs, but the general trend looks hopeful.
The key is patience—and staying informed.
- Will Home Prices Drop?
No, but that’s not bad news. Builders are still playing catch-up after years of not building enough homes, and inventory is still low. Prices will keep going up, just not as quickly as they have in the past.
For buyers, this means no big jumps in costs. For sellers, it means solid long-term value.
- Can I Find a Home Before I Move?
Yes, it’s possible! Inventory has been improving – it’s up over 29% compared to last year.
The trick is staying on top of what’s available in your area and being ready to act when the right home comes along. A little patience goes a long way here.
- Will the Housing Market Get Busier Next Year?
It looks like it will! Experts predict that more than 5 million homes will sell country-wide in 2025, which is a nice jump from this year.
Buyers who start now might have less competition, while sellers can take advantage of more motivated buyers still in the market.
- Is the Market Going to Crash?
Nope. Today’s homeowners have record amounts of equity in their homes, which wasn’t the case during the 2008 crash. That equity acts as a safety net, so we’re not likely to see the same problems as before.
The market today is much stronger and more stable.
The Bottom Line
Things are looking better for 2025. Rates should ease up, inventory is growing, and sales are picking up. Want more real estate info? Contact me.