The housing market should pick up this year, but the path looks choppy

Published On Jan 4, 2025, 12:10 PM

The article discusses the expected recovery of the housing market in 2025. While the year 2024 was one of the slowest for home sales, increased inventory and a potential easing of mortgage rates are anticipated. Despite these prospects, affordability challenges due to high home prices and mortgage rates remain prominent, limiting overall market activity. Professionals predict a slow recovery and a rise in existing home sales by about 1.5% in 2025, although this would still be below historical averages. Geographical disparities in price appreciation are also expected, with certain coastal markets seeing higher increases than others.