Housing Market Predictions For 2025

[Music] brought to you by the every dooll app start budgeting for free today so Rachel there's a lot going on with the housing market we're seeing some Trends you've got some input on it so I'm going to let you take this and drive it on home yes yes there's um yeah been I I would say good towards the consumer when it comes to mortgages so we are seeing a trend that mortgage rates are going down and they're expected to keep dropping in 2025 so rates on a 30-year fixed rate mortgage fell to to 6.12% in late of 24 and they keep decreasing and they're not going to go back to you know 2 to 3% rates like they had pre pandemic which was beautiful yeah it's not coming anytime soon but again we're continuing to see it drop which we love mortgage rates have dropped so if you're thinking about buying a home in the next year contact your local church hill mortgage team right now if you wait more people will be in the market competing for the same homes and potentially driving up prices Churchill will help you do the math to be sure your budget is correct making your home a blessing and helping you build lasting wealth learn more at Churchill mortgage.com Churchill mortgage.com um housing prices they're staying pretty steady and again they might level off but with the low inventory it's kind of keeping that stable and so they're not going to expectedly like Drop drastically so it's still this idea if you're on the sidelines and you're ready to buy a house this whole idea of like oh there's a bubble it's going to pop I'm going to get a great deal it's probably not going to happen they are pretty consistent uh in the federal Home Loan mortgage Corporation even predicts modest price growth in 2025 so values will continue to rise inventory is slowing so inventory grew 29.2% in 2024 compared to the previous year now they it is still below average or pre- pandemic levels and more homes are on the market to give buyers more options and sellers still have the upper hand in most areas as demand little by little it's getting better exactly exactly um buyer demands could rise so if interest rates keep dropping then obviously there's going to be more competition people are going to get back into the market to buy foreclosures will stay low foreclosures declined 133% in 24 and this trend is expected to continue in 2025 again they're rare out there if you can find a good one that's great but they're pretty rare still so yeah some of the takeaways uh for what we're seeing in the housing trending um in 2025 is for buyers if you're looking to buy with rates trending down and inventory improving you might find more opportunities okay to um to to get into the market and you may have some more options when it comes to housing but again do not overspend when you go to the mortgage company and to get a mortgage they're going to offer you way more than what you need so stay within your budget if you are selling this is still your Market and homes are priced fairly if they are priced fairly they're going to still sell pretty quickly and again for everyone you can't wait for the perfect time for the housing market it's the perfect time when it's the perfect time for you so if you don't have debt you have an emergency fund in place and you know you have you have at least a five 5% down payment go ahead and get in because again these the the the housing values the price of houses are not going down you're not going to go get a deal next year they are the same if not modestly increasing so the value of our homes are still it is still going up which truly is good news because these are investments for us and we want we want them to be going up um even if you're not in the housing market yet that's a good sign for all of us but Rachel you made a really good point because when you go into this you've got to know your numbers you've got to know what your parameters are because they will like lenders will allow you to borrow sometimes up to 50% maybe even more of what you're taking home and so just because they say you're approved that is not your signal to go all right everything's all good a banker says I I can afford this yeah yeah that's the red flag people you need to control that on your own ends you know and it it is wild when we think about it because I mean and and I know we all remember because it was just a few years ago when when prices just skyrocketed up remember that and and there were some hot areas that were significantly overpriced and they did kind of come down and you know even last year was kind of this like you know correction Austin Texas was one like we saw some markets do that um but I but I remember being on this show you know two years ago and and Dave and all of us were saying there's not a big bubble you guys cuz some people were saying that yeah that it's going to be like 09 and there's be foreclosures everywhere and all of this and it's like no it is going to it's going to stay and again it may correct it may kind of go back down a little bit to correct but it it is going to be what it is and it has stayed there Jade I mean it is wild I'm not mad cost now as a homeowner I'm not I mean think about it cuz this is the thing like on if you're on the sidelines right now you're definitely on on on feeling some type of way cuz you're like man I wanted to get in on the market but it's it's good news for all of us because it tells us that like the market is still strong and that things are doing well and when you do get in you're going to want your property to appreciate as well that's right I mean Sam and I South Florida was one of those hot areas and when we got our our first house was around 400,000 and it doubled when we I'm like thank you it made me a baby steps millionaire like this is what we want to happen and so it's one of those things that when you're not in the housing market yet it can feel so frustrating but once you get in you're like yes like I'm finally part of it and you want to see it ticking up and so that's right yeah good things so so good uh Did we tell them to go to the oh no yeah you need to go to um ramsy solutions.com realestate and we do have a US housing Trend market trends it's it's honestly right there on the on the front uh home screen so if you are curious about what's going on in the real estate market and you want to see facts and we pull these from reputable sources this isn't just opinions out there these are actually what's going on in the housing market and it is something people are watching and want to know hey what what is going on because you do hear a lot of either Doom and Gloom or over height here I mean so just to get the reality of what's really going on in the housing market make sure to go to ramsy solutions.com estate and for all of your real estate needs if you are looking to buy and sell uh use one of our uh ramsy trusted real estate um agents because yeah they um they will help you in this area and it's a big deal you guys your house is for most people the largest purchase you make oh yeah and to your point the largest investment when it comes to it appreciating and all of that so and they help you do it the Ramsay way cuz you know when we were moving here uh you know the way we do things the Ramsey way is not necessarily the way they do things out in the world and so it's like I remember making an offer on a house here and I was like it's got to be contingent like we've got to sell that house so that we have like it can't we're not going to be one of those people who takes out a bridge loan and it's great to work with a ramsy trusted person because they know that you don't have to explain all that to them they get it they're not going to they don't you take the task on it exactly so it's so so important to do things the Ramsay way create your free every dooll budget today the simplest way to budget for your life