Luxe Austin Homes - home sales

"2025 could bring some relief to one major housing challenge. Here's what to expect in the new year."

Austin Business journal shares, "More rate volatility, more affordability challenges — but slightly more inventory.

Those are some of the predictions among housing economics for the 2025 for-sale housing market. Beset by continued home-price appreciation, scarce inventory and a mortgage lock-in effect — not to mention sweeping industrywide changes — buying and owning a home continues to be out of reach for many.

Here's what to expect in the U.S. housing market next year.

Inventory and home sales

The biggest potential for relief in 2025 could come from an uptick in inventory.

While many existing homeowners are carrying a mortgage rate of 4% or less, life events and a broader acceptance that rates likely won't drop down to those levels…

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"Prices still at record levels even as existing-home sales tick up"

Key takeaways

• Existing-home sales in October 2024 rose 3.4 percent from the previous month and 2.9 percent from a year ago, according to the National Association of Realtors — the metric’s first annual gain since 2021.
• The nationwide median sale price was $407,200, up 4 percent from last year and the highest October median on record.
• Inventory in October was at a 4.2-month supply — still tight, but a sign that buyers are gaining more bargaining power.

Bankrate.com writes, "The housing market suffered from sluggish sales again in October 2024, but sales volumes finally are looking up. And home prices remain near record highs, a new report by the National Association of Realtors (NAR) shows.

The median home-sale price marked the highest…

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"Sales of Existing Homes Rise Annually for First Time in 3 Years"

Realtor.com reports, "Sales of previously owned homes rose in October following a brief dip in mortgage rates, and posted their first year-over-year gains since 2021.

Total existing-home sales increased 3.4% from September, to a seasonally adjusted annual rate of 3.96 million last month, the National Association of Realtors® reported on Thursday. The October sales figure, which excludes new construction, represented a 2.6% gain from one year ago.

Median home prices continued to rise on an annual basis last month, increasing 4% from October 2023, to $407,200. It marked the 16th consecutive month of year-over-year price increases.

The annual gain in home sales was the first seen since July 2021. However, the year-over-year gain was boosted by…

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"Homebuyers can afford to be picky as Austin housing inventory rises"

CultureMap Austin shares, "The latest real estate report from Unlock MLS and the Austin Board of Realtors (ABoR) has revealed housing inventory is still on a steady rise in the Austin-Round Rock-San Marcos MSA, creating more choices for potential homebuyers as they navigate a high interest rate market.

Residential home sales dipped by a mere 1.5 percent year-over-year from October 2023, amounting to 2,248 closed sales in the Austin-Round Rock-San Marcos MSA. Median prices have also dropped to $430,000, or 3.2 percent less than this time last year. More than 3,300 new home listings were added on the market — a 7.4 percent increase from 2023 — bringing the total number of active home listings to 11,599.

According to Unlock MLS and ABoR housing…

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"California-based homebuilder New Home growing in Austin metro"

Austin Business Journal shares, "A California-based homebuilder is making a splash in Georgetown’s Bluffview neighborhood, where it purchased 105 homesites for more than $17 million.

New Home Co., which made its Texas debut in 2023 with the purchase of Katy-based Hamilton Thomas Homes, is now building new homes in the Austin region, according to an announcement. In addition to homes in Bluffview, it's at work building homes in Buda and Kyle, and it has plans to grow further, New Home Co. CEO Matthew Zaist said.

The 105 homesites in Bluffview consist of 65 lots with 50-foot frontages and 40 lots with 60-foot frontages, Zaist said. Homes on the lots will range from 2,100 square feet to more than 4,000 square feet.

New Home Co. expects to begin…

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"Texas new home sales slowed in September, prices dropped in Austin"

CultureMap Austin writes, "new analysis of the statewide real estate market has revealed new home sales in Texas have slowed since September, despite a drop in average prices, and inventory is on the rise.

The September edition of the New Home Sales Report by Dallas-based platform HomesUSA.com examined MLS data across Dallas-Fort Worth, Houston, Austin, and San Antonio to determine the status of the overall real estate market.

The report found that the three-month average number of new home sales fell across all four major metros in September. Austin saw the smallest decline in home sales, down by just seven sales to 864 in September.

Out of all four markets, San Antonio saw the most dramatic decline in sales with 1,067 new homes sold in…

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"Despite Inventory Rise, Home Buyers Remain Cautious"

Realtor Magazine writes, "Home buyers may finally be finding more inventory options this fall, but they’re still being cautious about entering the real estate market, the National Association of REALTORS® reported Wednesday.

“Home sales have been essentially stuck at around a 4-million-unit pace for the past 12 months, but factors usually associated with higher home sales are developing,” says NAR Chief Economist Lawrence Yun. “There are more inventory choices for consumers, lower mortgage rates than a year ago and continued job additions to the economy. Perhaps, some consumers are hesitating about moving forward with a major expenditure like purchasing a home before the upcoming election.”

Total existing-home sales—which reflects completed…

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"Mortgage Rates Rise to 6.54% as Homebuyers Decide Whether To ‘Act Before Winter’"

Realtor.com shares, "mortgage rates climbed from 6.44% last week to 6.54% for a 30-year fixed home loan for the week ending Oct. 24, according to Freddie Mac.

“The continued strength in the economy drove mortgage rates higher once again this week,” Sam Khater, Freddie Mac’s chief economist, said in a statement. “Over the last few years, there has been a tension between downbeat economic narrative and incoming economic data stronger than that narrative. This has led to higher-than-normal volatility in mortgage rates, despite a strengthening economy.”

Unfortunately for would-be homebuyers—and sellers—this uptick marks the fourth week in a row that mortgage rates have risen.

“This rapid run-up in mortgage rates has sapped some of the burgeoning…

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"Mortgage Rates Rise to 6.44%, Yet ‘Buyers May Be Feeling Ready To Act’"

Realtor.com shares, "Mortgage rates rose from 6.32% last week to 6.44% for a 30-year fixed home loan for the week ending Oct. 17, according to Freddie Mac.

“The 30-year fixed-rate mortgage increased for the third consecutive week, moving closer to 6.5%,” Sam Khater, Freddie Mac’s chief economist, said in a statement. “In general, higher rates reflect the strength in the economy that is supportive of the housing market. But notably, as compared to a year ago, rates are more than one percentage point lower and potential homebuyers can stand to benefit, especially by shopping around for the best quote as rates can vary widely between mortgage lenders.”

This wasn’t exactly the news homebuyers were hoping for.

“While we expect the long-run trend…

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"Homebuyer sentiment is up, but for how long?"

RealEstateNews.com shares, "Consumers were considerably more upbeat about the housing market in September, but rising mortgage rates may put a damper on their enthusiasm.

Homebuyer sentiment reached its highest level in more than two years in September, but that may not last as mortgage rates continue to rise.

The Fannie Mae Home Purchase Sentiment Index jumped 1.8 points last month to 73.9, fueled by the expectation that mortgage rates will decline in the next 12 months. 

Optimism around rates was at a survey high, according to Fannie Mae, with a record 42% of consumers saying they expect mortgage rates to decline — a significant increase since June, when only 24% anticipated a drop in rates. Just under a third of respondents expect rates to…

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