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January 24 2025
Reef Daily
Reef Daily | January 24 2025
Housing Market Update
Latest Market Data (January 24, 2025)
- Existing home sales rose 2.2% in December to 4.24 million, the highest level since February 2024
- Annual existing home sales for 2024 fell to 4.06 million, lowest since 1995
- Median existing home price reached record $407,500 in 2024
- December median price was $404,400, up 6.0% from prior year
- Housing inventory dropped 13.5% to 1.15 million units in December
- Unsold inventory sits at 3.3-month supply at current sales pace
Mortgage Rates
Current rates as of January 24, 2025:
Type | Today's Rate | Last Week's Rate |
---|---|---|
30-year fixed | 7.01% | 7.11% |
15-year fixed | 6.27% | 6.39% |
5/1 ARM | 6.52% | 6.60% |
Future Forecasts Fannie Mae predicts mortgage rates to close 2025 at 6.5%, with home price appreciation decelerating to 3.5% in 2025
Notable Transactions
Commercial Highlights
- AT&T completed $850M sale-leaseback of 74 properties totaling 13M square feet with Reign Capital
- $33.25M sale of 8.84-acre outdoor storage site in Middlesex County, NJ to Oliver Street Capital and Bain Capital Real Estate
- Realterm acquired 13-property industrial outdoor storage portfolio across multiple states
Regional Activity
- Las Vegas luxury home market averaging $1.58M, up 7.5% year-over-year
- Port Washington, WI approved 1,900-acre land annexation for future data center development
Market Indicators
Inventory Trends
- Total housing inventory down 13.5% monthly but up 16.2% annually
- Unsold inventory at 3.3-month supply, down from 3.8 months in November
Buyer Demographics
- Sales rose 35% year-over-year for homes priced above $1 million
- Sales declined for homes priced under $250,000
Regional Developments
West
- Las Vegas ranks #1 in luxury investments among top 10 metro areas
Northeast
- Multiple residential transactions in Berkshire region ranging from $120,000 to $2.45M
South
- Texas markets showing increased inventory levels, particularly in Austin, Dallas, and San Antonio
Midwest
- Port Washington, WI advancing major data center development project
Sources
- investopedia.com
- nar.realtor
- noradarealestate.com
- stocktitan.net
- rismedia.com
- editorji.com
- worldpropertyjournal.com
- powersportsbusiness.com
- abc.org
- dailyreporter.com
- realtor.com
- realestatenews.com
- financefeeds.com
- worldpropertyjournal.com
- geoweeknews.com
- noradarealestate.com
- utilitydive.com
- investopedia.com
- businessinsider.com
- themortgagereports.com
- rismedia.com
- foxbusiness.com
- finance.yahoo.com
- aol.com
- investopedia.com
- eyeonhousing.org
- theberkshireedge.com
- prunderground.com
- bizjournals.com
- njbiz.com
- journal.firsttuesday.us
- washingtoncountyinsider.com
- egyptian-gazette.com
- newsweek.com
- highnorthnews.com
- investopedia.com
- insideindianabusiness.com
This newsletter is for informational purposes only and should not be considered as financial advice.
© 2025 Reef Insights. All rights reserved.
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