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January 31 2025

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Reef Daily | January 31 2025

Housing Market Update

Latest Market Data (January 31, 2025)

  • Nearly half of American homeowners were "equity rich" in Q4 2024, meaning they owed less than half of their home's value
  • New home sales increased 3.6% in December, with the median sales price at $427,000, up 2.1% year-over-year
  • The PCE price index rose to 2.6% in December, up from 2.4% in November, indicating persistent inflation pressures

Construction Activity

  • The Bay Area's life science market ended 2024 with 1.9M SF in leasing activity, with the San Francisco Peninsula accounting for 86% of total volume
  • Austin commercial developers reported 11.92 million square feet under development or delivered during 2024

Mortgage Rates

Current rates as of January 31, 2025:

Type Today's Rate Last Week's Rate
30-year fixed 6.96% 7.01%
15-year fixed 6.20% 6.27%
5/1 ARM 6.31% 6.52%

Notable Transactions

Commercial Highlights

  • Wheeling Service Center LLC purchased a medical office property in Denver for $2.51M
  • Sach Futures LLC acquired a Brakes Plus location in Parker for $3.33M
  • Black & Read leased 16,607 square feet in Arvada in a former Dollar General location

Regional Activity South: Florida experiencing significant inventory surge with active listings in Broward County up 33.2% year-over-year West: Bay Area seeing strong life science leasing momentum Midwest: Adams County, Illinois reported multiple residential transactions ranging from $25,000 to $350,000

Market Indicators

Inventory Trends

  • Florida statewide inventory increased 22.7% year-over-year to 196,965 homes
  • Broward County active listings increased 33.2% year-over-year to 4,719 units

Price Trends

  • Florida median home price stands at $411,100
  • Palm Beach County saw an 8% price increase compared to previous year

Regional Developments

South Florida market showing signs of adjustment with increasing inventory and seller activity, particularly in South Florida markets

West Bay Area commercial real estate showing strength in specialized sectors, particularly life science spaces

Northeast Vermont, New Hampshire, and Maine reported highest levels of home equity nationwide

Sources

  1. newsweek.com
  2. investopedia.com
  3. wolfstreet.com
  4. financialmirror.com
  5. muddyrivernews.com
  6. bizjournals.com
  7. newsweek.com
  8. americanchemistry.com
  9. noradarealestate.com
  10. globest.com
  11. washingtoncountyinsider.com
  12. utilitydive.com
  13. businessden.com
  14. costar.com
  15. northplattepost.com
  16. reuters.com
  17. reuters.com
  18. kshb.com
  19. cnbc.com
  20. cnn.com
  21. bizjournals.com
  22. linas.substack.com
  23. hindustantimes.com
  24. finance.yahoo.com
  25. noradarealestate.com
  26. unionprogress.com
  27. investopedia.com
  28. noradarealestate.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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