Agents: Real Estate Facts not Fiction!

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  1. Rising Inventory Levels:
  • As of December 2024, active home listings reached 871,509, marking a 22% increase from December 2023.
  • However, this figure remains approximately 16% below December 2019 levels, when active listings stood at 1,033,887.
  • Notably, nine states, including Arizona, Colorado, Florida, Idaho, Oklahoma, Tennessee, Texas, Utah, and Washington, have surpassed their pre-pandemic inventory levels, offering buyers in these regions more options.

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  1. Regional Inventory Variations:
  • Florida and Texas now account for 30% of the nation’s active listings, with inventory levels 17-18% above pre-pandemic figures.
  • In contrast, many Northeastern and Midwestern states continue to experience significantly lower inventory levels, highlighting the importance of localized market strategies.
  1. Mortgage Rate Trends:
  • The December 2024 Consumer Price Index (CPI) report indicated a modest 0.2% month-over-month increase in core inflation, contributing to a decline in average 30-year mortgage rates, which are now approaching 7.1%.
  • This shift may enhance affordability for prospective buyers.
  1. Builder Sentiment and Incentives:
  • The National Association of Home Builders’ sentiment index rose to 47 in December 2024, nearing the neutral threshold of 50.
  • Notably, current sales conditions entered positive territory at 51, suggesting builders are cautiously optimistic about the market’s direction.
  • To attract buyers, 56% of new-home communities offered incentives in January 2024, including mortgage rate buydowns, closing cost credits, and price reductions.
  • For instance, some builders are providing rate buydowns, offering a 3.99% rate for the first year, 4.99% for the second year, and a 5.99% fixed rate thereafter on select homes.
  1. Homeowners Associations (HOAs) on the Rise:
  • In 2024, 40.5% of properties included HOA fees, up from 39.2% the previous year.
  • The median HOA fee increased by 14% to $125 per month.
  • In certain metropolitan areas, such as Houston and Las Vegas, over 75% of listings now feature HOA fees, which could influence buyer decisions.

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  1. Wholesale Inflation Deceleration:
  • December 2024 saw a 0.2% month-over-month rise in the Producer Price Index (PPI), indicating a slowdown in wholesale inflation.
  • This trend may lead to more stable construction costs, potentially benefiting both builders and buyers.
  1. Navigating Local Market Dynamics:
  • The average time a property remains on the market varies significantly between hot and slower markets.
  • Nationally, homes typically stayed on the market for 41 days in January 2025, an increase from 35 days in December 2024.
  • In hotter markets, such as Philadelphia, PA, properties spend an average of 11 days on the market before going pending.
  • Conversely, in slower markets like Washington, D.C., the average days on market increased from 52 days in 2024 to 57 days in 2025, a 9.6% rise.
  • These disparities underscore the necessity for agents to tailor their strategies to local conditions, as buyers and sellers face different challenges depending on the market’s pace.

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