December 20 2024
Reef Daily
Reef Daily | December 20 2024
Housing Market Update
Latest Market Data (December 20, 2024) The Agency founder and CEO Mauricio Umansky projects 2025 will mark a resurgence in home listings and sales after years of stagnation. Inventory had already climbed 66.67% from January to November 2024 compared to the same period last year.
Construction Activity No new construction data released in the past 24 hours.
Mortgage Rates
Current rates as of December 20, 2024:
Type | Today’s Rate | Last Week’s Rate |
---|---|---|
30-year fixed | 6.89% | 6.70% |
15-year fixed | 6.15% | 6.00% |
5/1 ARM | 6.49% | 6.32% |
Mortgage rates have surged following the Federal Reserve's recent 25 basis point cut, reaching 6.7%. This increase reflects ongoing tension between Fed policy and broader economic indicators.
Notable Transactions
Commercial Highlights A prime mixed-use property at 216 S. Park Ave in Winter Park hit the market for $5.5 million. The 4,953-square-foot, fully leased two-story building is generating robust interest from both local and international buyers.
Regional Activity No significant regional clusters reported in the past 24 hours.
Market Indicators
Future Forecasts Real estate agents are showing optimism for 2025, with 89% expecting to see more transactions compared to 2024. Approximately 60% believe transactions will improve by 5%, while 23% expect a 10% increase in sales.
Buyer Demographics High net worth buyers remain active in the market, though interest rates are affecting their decisions, with 66.67% of agents reporting that rates directly impact the high-end market.
Regional Developments
West Las Vegas market shows increased activity with single-family home sales up 7.1% month-over-month and 12.9% year-over-year.
Sources:
Today's Mortgage Rates on the Rise: 6.7% as of December 20, 2024
Retail sales data, YF's Surprise of the Year: What to Watch
Will Mortgage Rates Go Down In December? | Bankrate
Dealmakers: Notable commercial real estate transactions — April-June 2024 - UPSTATE BUSINESS JOURNAL
Head of billion-dollar brokerage firm gives his view of real estate market in 2025 | Fox Business
Closing Bell: Sensex plunges 960 pts, Nifty ends near 23,950; IT, banks hit worst, pharma sole outlier
An update on US consumer sentiment: A boost in optimism amid the holiday spending season
Current Mortgage Rates: December 20, 2024 | Money
This prime Park Avenue property in Winter Park hits the market - Orlando Business Journal
Agents expect more sales, (much) lower rates in 2025
Las Vegas Housing Market: Trends and Forecast 2024-2025
Today's Mortgage Rates | The Fed Made a Cut. Mortgage Rates Went Up Anyway.
Sources
This newsletter is for informational purposes only and should not be considered as financial advice.
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