By the Numbers

After a brief COVID bounce, the share of people who own their homes has settled in around 65%, a recent report found. But it can vary widely by state and city.

Prices are still going up, but 2024 ended with just 4.5% annual growth. Regionally, the Northeast is still going strong, while the Sunbelt has cooled.

Following years of declines, the square footage of single-family home starts was up at the end of 2024. If mortgage rates ease, that trend could continue.

Bright MLS launches a new site with housing market data for the nation’s capitol. Plus, inland condo prices rise in Florida, and new home sales dip in Texas.

While down sharply from December, sales are off to a better start vs. 2023 — and buyers who can handle elevated rates have fresh inventory to choose from.

Rates have dipped slightly, but demand is weak. Agents hope rising inventory and increased bargaining power will prompt more buyers to move forward this spring.

In several metros in the Midwest and South, Gen Z accounted for a fifth of the mortgage applicants. Home prices in those markets were typically below $300K.

Housing starts fell in January, and builders are less optimistic about the next six months as new federal policies could increase costs and reduce workforces.

Demand is weak, rates remain elevated and sellers appear weary — but buyers may return to the market this spring to take advantage of “deals on the margins.”

The latest CPI data suggests rates will remain elevated heading into the spring shopping season, and some analysts now expect just one rate cut this year.

The price of building materials could rise by an additional 4-6% in the next 12 months, or 10% overall, according to a new report from CoreLogic.

The latest employment report was mixed, but stronger wage growth means rate cuts will probably remain paused through the spring homebuying season.

Rates appear to have stabilized in the upper-6% range, while an increase in new listings points to an early rise in inventory ahead of the spring season.

A 4-month streak of gains seemed to be setting up a strong start to the new year, but sales slipped in December — “not welcome news” for hopeful agents.

“We’re not on any preset course,” said Fed Chair Jerome Powell, who noted it was too early to predict how Trump policies will affect the economy.

Sales were up at the end of 2024, and for the full year, increased by 2.5% over 2023 — in contrast to existing home sales, which fell short of 2023 numbers.

Despite an uptick in December, existing home sales ended the year at just over 4 million, the lowest rate since 1995.

With affordability improving for apartment dwellers — and mortgage rates and home prices still high — renters may continue to delay home purchases.

The 30-year fixed rate averaged just under 7% this week, according to Freddie Mac, but some economists are already revising their 2025 forecasts upward.

Facing affordability challenges, the share of 25- to 34-year-olds living with parents has risen after trending down during the pandemic.