Luxe Austin Homes - mortgage rates

"Will Homeowners Finally Sell in 2025? Here’s What the Experts Say, Amid a Glimmer of Hope"

Realtor.com writes, "The U.S. housing market crawled to a standstill last year—and while the latest projections show that 2025 is expected to bring only limited relief to buyers and sellers, there is a glimmer of hope on the horizon.

The year closed out with the strongest seasonal slump since January 2023. Homes lingered on the market for a whopping 70 days, up from 62 in November. It made December 2024 the slowest festive season in five years.

Inventory also plummeted 8.6% from November, marking the most precipitous drop in nearly two years.

Meanwhile, mortgage rates reached a six-month high, hitting 6.91% for the average 30-year fixed home loan for the week ending Jan. 2, according to the latest numbers from Freddie Mac.

On top of…

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"New real estate startup focused on facilitating seller financing"

Austin Business Journal reports, "A local lender is fundraising for a new startup that aims to help address home affordability by facilitating seller financing.

MORE Seller Direct Financing was founded by Leahy Lending founder Ryan Leahy, who said the startup will show sellers and listing agents how to market lower interest rates in order to attract more homebuyers. In addition to legal, marketing and educational services, the startup will help determine if seller financing — in which a home seller and not a financial institution provides financing to a qualified buyer — is right for the seller.

He said the startup's goals include helping sellers move their homes faster and also earn monthly income to offset current or future mortgage payments.…

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"How Austin fits into Zillow's predicted housing market growth in 2025"

CultureMap Austin writes, "It looks like a few more people are about to turn their online home shopping daydreams into reality in 2025. Zillow, the famous real estate listings website, says in a press release that next year will likely bring "a gradual but bumpy decline in rates, impacting sales and price growth."

It attributes the forecast to "erratic and dramatic mortgage rate movements" throughout 2024, which will continue to affect the market. The website's housing market predictions report estimates that 2025 will see about 100,000 more sales than 2024, that home value growth will be "low and slow" at 2.2 percent, and that inventory and new listings will continue recovering from pandemic weakness.

On a local scale, Zillow's latest data…

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"Forecasts in 4 top markets a reminder that real estate is local"

Key points:

• During NAR’s annual real estate forecast summit, a panel of economists shared predictions for their markets in 2025.
• Compared to much of the country, Austin and Florida have significant inventory, while in Virginia and California, supply remains constrained.
• Regional issues including post-boom rebalancing, chronic underbuilding and job shifts will continue to impact local markets next year.

RealEstateNews.com writes, "As real estate agents and brokers prepare for 2025, they will need to consider how national forecasts — including predictions of more transactions in 2025 — apply to their local markets.

While the mantra "all real estate is local" remains in play, some trends proved fairly consistent between 2020 and…

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"Building Boom Forecast for 2025: Number of Affordable New Homes Set To Soar, but Expect Them To Be Smaller"

Realtor.com writes, "Builders are working to fix America’s critical housing shortage—and while the number of new homes is expected to top 1.1 million in 2025, expect them to be built slightly smaller.

But, homebuyers can expect them to be more affordable, too, according to the Realtor.com® 2025 Housing Forecast. This is especially good news for first-time homebuyers, who might find new homes easier to access in areas that are growing.

New construction will help ease the housing shortage

In 2025, new-home sales and single-family housing starts are expected to improve compared with other types of homes. Builders plan to construct about 1.1 million homes, which is a 13.8% increase from 2024.

Builders are working to make homes more affordable,…

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"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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"The Unsung Power Players of Real Estate: How Gen X Carves Up a Significant Slice of the Market"

Realtor.com writes, "The real estate market seems to be constantly buzzing about baby boomers, Millennials, and Gen Z, but what about Gen X?

Born between 1965 and 1982, Gen X is the smallest age cohort by population, but they’re no less mighty when it comes to the housing market.

As a sandwich generation wedged between Millennials and baby boomers, Gen Xers are increasingly stepping up to keep their parents and children afloat while redefining how we live, buy, and move in today’s real estate landscape.

How exactly?

Though Gen X accounts for just 19% of the U.S. population, a new National Association of Realtors® report reveals they represent 24% of recent homebuyers—a significant slice of the market. Around 60% of Gen Xers own their…

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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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