🏡Real Estate Nuggets - 12/27/2024
Real estate news for you as of December 27th, 2024.
~Average mortgage rates as of December 27th, 2024~
30 yr. Fixed - 7.12%
15 Yr. Fixed - 6.48%
30 Yr. FHA - 6.46%
30 Yr. Jumbo - 7.33%
Disclaimer: Average mortgage rates as of December 27th, 2024. © MND's Daily Rate Index
1. Charted: Housing Supply Ends 2024 On the Rise, Up 12% Year Over Year
Active listings are rising in part because many homes are lingering on the market, causing supply to pile up.
(Redfin)
2. Real estate experts predict a "Trump bump" for 2025. What does that mean for Oklahoma?
President-elect Donald Trump‘s return to the White House could bring “significant shifts” to the housing market in Oklahoma and across the nation, according to Realtor.com's new 2025 housing forecast.
The real estate website's economic research team noted that in Trump's previous presidency, the real estate mogul pushed for tax cuts, deregulation and policies to spur economic growth.
If similar policies are enacted this term, this "Trump bump" could majorly impact mortgage rates, new home construction and more.
3. 🔥Quick Hits
🚫FTC bans hidden junk fees in short-term lodging. (TechCrunch)
💸Real estate social media strategies that work (HousingWire)
🏡Starter homes are shrinking in size, but not in price, new data confirms. (Fortune)
4. 36% of Americans want the housing market to crash
According to a recent LendingTree survey, many Americans are concerned about a potential housing market crash, with 38% believing it’s likely to happen within the next year. Interestingly, 36% of respondents actually hope for a crash, seeing it as a way to achieve stability or make homeownership more affordable.
Here are the key findings from the survey:
38% of Americans think a housing crash is likely, down from 44% last year.
36% want a crash to occur, hoping it will lead to stability, lower property taxes, or affordable homebuying.
29% of renters believe a crash is their only route to homeownership.
46% of homeowners are reluctant to sell due to low mortgage rates.
37% of Americans think mortgage rates will never return to 2020-2021 lows.
5. U.S. Home Prices Rose 0.5% in November
Home prices grew 0.5% month over month in November, the third consecutive month with a 0.5% increase.
On a year-over-year basis, home prices rose 5.7%, the smallest annual increase since October 2023.
14 of the 50 most populous U.S. metros recorded a drop in home prices month over month.
U.S. home prices grew 0.5% from a month earlier in November on a seasonally adjusted basis, the third consecutive month with a 0.5% increase. On a year-over-year basis, home prices rose 5.7%, the lowest annual increase since October 2023. (Redfin)
If you liked this newsletter, send it to a friend here. If I can help answer any of your mortgage questions let me know! I’m always available to help and always appreciate referrals.
Adam Walmsley // Oklahoma Mortgage Loan Officer // NMLS 2286628
Mobile: (405) 703-9929
Email: adam.walmsley@southwestfunding.com
Moore, Oklahoma
Apply Now Link
Southwest Funding, LP // NMLS 32139
