The founder and managing partner of the Connor Group talks about what needs to release the housing market and the effects of regulations on the rebuilding of California after the wildfire.
Existing housing sales As housing prices reached the highest in history, US housing prices in 2024 were low for the first time in about 30 years.
According to data published by the National Real estate agent association, last year's second -hand housing sales have fallen to the lowest level since 1995, and 4.06 million units were sold annually.
on the other hand, Medical housing price In 2024, it rose to a record high of $ 4007,500.
“The mortgage loan interest rates are close to 7 % and housing psychology is generally soft, so it is unlikely that the sales of used housing will be maintained,” said City Group's economist Alice Jen. “I don't think housing demand will be more upward in the short term.”
The impact of abnormal weather and housing prices on the housing market in 2025
Used housing sales fell to the lowest level in about 30 years in 2024. (License/image)
Used housing sales showed signs of an increase in the end of 2024, increased by 2.2 % from November, and in December it was 4.24 million units after the seasonal adjustment. Sales increased by 3.88 million units per year in December 2023 to 9.3 % year -on -year.
“Housing sales in the last few months of the year showed a strong recovery despite the rise.” Mortgage interest rateNAR's Chief Economist Lawrence Yoon said.
“Winter housing sales in winter are usually sluggish than spring and summer, but sales have been higher than the previous year for three consecutive months,” said Yun. “Consumers clearly understand long -term things. Advantages of housing ownership。 Increasing employment, wage, and inventory increase have a positive impact on the market. “
Housing supply rises to the highest level for the first time in four years -but not only good news
NAR analyzed all four regions, and used housing sales were increasing on an annual basis, and prices have risen in each of the four regions.
Sales have increased 9.3 % year -on -year, the largest growth since June 2021, mainly due to more than $ 500,000 housing trading.
The top housing market in 2025, which was revealed in a new forecast
The housing market is cold due to the rise in mortgage rates. (Justin Sullivan/Getty Image/Getty Image)
The median home price of a used house was $ 404,400, up 6 % from $ 381,400 a year ago.
“The rise in the median housing price is also partly because the performance of the luxury housing market has been relatively good,” Yun said. “In housing with a price of more than $ 1 million, sales increased by 35 % year -on -year, but in houses with a price of less than $ 250,000, sales decreased.”
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For the first time in housing sales in December, housing buyers accounted for 31 %, an increase of 30 % in November and 29 % in December 2023.
According to NAR's “Housing buyers and sellers' profiles,” the first time the house was purchased was 24 %, the lowest ever.
Reuters contributed to this report.
