The U.S. Government is reporting that sales of new single-family houses in November, 2024 were at a seasonally adjusted annual rate of 698k, which is 3.6% higher than November’s revised rate and is 6.7% higher than one year ago. The median sales price of new houses sold in December was $427k with an average sales price of $513,600. There were an estimated 494k new houses for sale at the end of December representing a 8.5-month supply at the current sales rate. Click here to read the full report at the U.S. Census Bureau.
Author: Brad Beckett
Brad Beckett
Director of Education & Outreach, National Real Estate Investors Association
We have had several posts with the forecasts & prognostications for 2025’s housing market. They’re always interesting and exciting to look at. With that in mind, today’s graphic from Keeping Current Matters takes a look at several “expert” forecasts and puts them all in one place. Their conculsion; mortgage rates will slightly come down, home prices will rise, and there will be more homes for sale. Indeed…..Happy investing, stay safe and have a Happy Friday!!! Hat tip to Keeping Current Matters.
Rentcafe says 2024 was a year of transformations that were driven by shifting job markets, lifestyle changes and emerging trends in urban development. With that in mind, they say 2025 is poised to be an exciting year for rentals. Their new report highlights those urban areas they believe will be hotspots for new residents, thriving businesses and fresh opportunities. Indeed… Click here to read the full report at RentCafe.
A new report from WalletHub says certain states make it easier than others to raise a family. They say the ideal state is one that’s affordable to live in that also offers a high degree of safety and good job prospects, quality education, healthcare and entertainment. To that end, WalletHub analyzed all 50 states using 50 key indicators of family-friendliness (factors included median annual family income, housing affordability, health care quality, crime rate, and school quality) find the best & worst states to raise a family in 2025. “Raising a family has become significantly more expensive in recent years as…
A recent story in the Wall Street Journal (reposted on Realtor.com) says the U.S. government has an in-house landlord, and President Trump is no fan. In fact, they say the new administration is considering selling two-thirds of the federal government’s office stock – many of which has been poorly maintained and are sitting empty or underused, according to the GSA (Government Services Administration). Interestingly, the GSA manages a huge portfolio of federal buildings nationwide that consists of nearly 370 million square feet. Indeed… A GSA spokeswoman said: “GSA continues to work to right-size the federal portfolio, and is committed to…
According to ATTOM Data’s Year-End 2024 U.S. Foreclosure Market Report, there were 322,103 U.S. properties with foreclosure filings (default notices, scheduled auctions or bank repossessions) – representing 0.23% of all U.S. housing units, down slightly from 2023 and down from a peak of 2.23% in 2010. In addition, lenders started the foreclosure process on 253,306 properties in 2024, down 6% from 2023, up 174% from 2021, but down 25% form 2019 and down 88% from a peak of 2,139,005 in 2009. The continued decline in foreclosure activity throughout 2024 suggests a housing market that may be stabilizing, even as economic…
Local Market Monitor, a National REIA preferred vendor, recently released their monthly National Economic Outlook where they share their thoughts on developments taking place in the U.S. economy. Click here for more information about Local Market Monitor.
The National Association of Realtors is reporting that existing home sales were up 2.2% in December to a seasonally-adjusted annual rate of 4.24 million – up 9.3% year over year. Total housing inventory at the end of December was 1.15 million units, down 13.5% from November and up 16.2% from one year ago. Unsold inventory sits at a 3.3-month supply at the current sales rate with properties remaining on the market for around 35 days. The median existing-home price for all housing types in December was $404,400. “Home sales in the final months of the year showed solid recovery despite…
THIS STORY IS BEING UPDATED AS DEVELOPMENTS OCCUR….NEWEST UPDATES AT THE BOTTOM. The National Law Review is reporting that on December 3rd, 2024, the U.S. District Court for the Eastern District of Texas granted a nationwide preliminary injunction blocking enforcement of the Corporate Transparency Act (CTA). However, they caution that the Court’s order is not a final decision, so businesses should remain cautious and be prepared to comply with the CTA reporting requirements if they are revived as the case proceeds, or if the injunction is lifted. “Uncertainty Regarding Future Enforcement: The Court’s order is not a final decision,…
You have undoubtedly seen the horrible destruction recently taking place in California. With that in mind, Statista says states with significant chunks of housing stock are located in areas prone to wildfires. These areas are often wooded & mountainous and attract people because of their natural beauty. But they also come with inherent dangers to life & property. Today’s infographic spells out the states where properties are most at risk from wildfires. Indeed…stay safe and have a Happy Friday. Hat tip to Statista.
