As we enter the busy spring selling season, where market activity increases with more sellers listing their properties and more buyers commencing their home searches, we can expect to see the typical annual shift in market trends.
The recently released S&P/Case-Shiller Home Price Index tracks the December data and notes that the second half of 2024 saw stalled home prices. However, while the West Coast markets have seen increased inventory levels and some flattening of the month-to-month growth rate of housing prices, the year 2024 still finished with a 5.61% increase year-to-year, which is almost 50 bps per month of median home price appreciation.
We are seeing 15% more inventory and about the same increases in sales volumes, so the year 2025 is proving to be a rising market overall.
Remember, you can always refi, but you can’t rebuy. RSIR President and CEO Dean Jones had a timely conversation with Carese Busby of Movement Mortgage on these subjects, linked here.