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January 28 2025

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Reef Daily | January 28 2025

Housing Market Update

Our January 2025 Reef Report is now available! reefinsights.com/reports

Latest Market Data (January 28, 2025)

  • FHFA House Price Index rose 0.3% in November, up 4.2% from previous year
  • Case-Shiller National House Price Index increased 3.8% year-over-year in November
  • One-third of homes currently on the market have experienced price reductions from initial listing prices
  • New listings increased 4% compared to last year, with unsold new listings up 13%
  • Total number of sellers has risen by 4% compared to 2024

Construction Activity New orders for manufactured durable goods decreased $6.3 billion or 2.2% to $276.1 billion in December

Mortgage Rates

Current rates as of January 28, 2025:

Type Today's Rate Last Week's Rate
30-year fixed 7.05% 7.11%
15-year fixed 6.34% 6.41%
5/1 ARM 6.55% 6.87%

Future Forecasts Mortgage rates are anticipated to remain within the 6% range for most of 2025, with occasional fluctuations

Notable Transactions

Commercial Highlights

  • CenterSquare Investment Management acquired Shoppes at Canterbury Glen in Rock Hill for $4.1 million
  • DAMAC International launched The Delmore luxury condominium in Miami's Surfside area, with prices starting at $15 million
  • Leifer Properties acquired 76,557 sq ft industrial property in Cocoa, Florida

Regional Activity

  • Northeast: Home values continue to appreciate with inventory shortages
  • South & West: Markets showing signs of price moderation with increased inventory
  • Florida & Texas: Experiencing significant inventory increases, with 261,000 active listings combined

Market Indicators

Inventory Trends

  • National inventory levels continue to rise with 13% more new listings remaining unsold compared to 2024
  • Florida and Texas collectively showing 207% more active listings than the entire Northeast

Buyer Demographics Consumer confidence declined in January:

  • Consumers under 55 showed decreased confidence
  • Households earning over $125K reported sharpest decline in confidence
  • Consumers at bottom income range reported strongest gains

Regional Developments

Northeast

  • New York leads with highest annual price gain at 7.3%
  • New England division saw 0.9% price growth

South

  • East South Central division recorded -0.6% price change
  • Tampa market experienced a 4.6% price decline

West

  • Anaheim, California showed 6.1% year-over-year price growth
  • Oakland experienced a -0.8% price decline

Midwest

  • Chicago reported 6.2% annual price increase
  • West North Central division saw 0.9% price growth

Sources

  1. newsweek.com
  2. fhfa.gov
  3. noradarealestate.com
  4. globenewswire.com
  5. bizjournals.com
  6. newsweek.com
  7. census.gov
  8. prnewswire.com
  9. marketscreener.com
  10. realtor.com
  11. finance.yahoo.com
  12. indexbox.io
  13. nhregister.com
  14. hindustantimes.com
  15. calculatedrisk.substack.com
  16. marketwatch.com
  17. realtor.com
  18. aol.com
  19. businessinsider.com
  20. financialpost.com
  21. investopedia.com
  22. finance.yahoo.com
  23. investopedia.com
  24. newsweek.com
  25. profilemiamire.com
  26. prnewswire.com
  27. spacecoastdaily.com
  28. arabnews.com
  29. islandfreepress.org
  30. stackedhomes.com
  31. businesswire.com
  32. scotsmanguide.com
  33. globenewswire.com
  34. reuters.com
  35. musicrow.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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