Will home prices fall this December?
Here's what experts say
Keller Williams Market Research
Some of the best research and analytics in the real estate industry. I will continue to use more visuals from these reports in future newsletters, as we cover different topics. These typically cover the national market, but I will relate them to our local market in my report below.
MARKET REPORT
As December unfolds, prospective homebuyers may find some relief in the housing market. Historically, this month sees a slowdown in activity, with fewer new listings and sellers more inclined to adjust prices or temporarily withdraw properties during the holiday season. This trend often results in a modest dip in home prices, presenting potential opportunities for buyers. However, we may not see many significant declines in our local market, as overall market conditions remain more robust than they were last year and seem to be stable. While the Winter might offer a few good opportunities, substantial decreases are unlikely unless the particular seller is motivated to move.
In reviewing stats from the recent Keller Williams research, I've been able to pull out some key points to share with you. The housing market in 2024 remains strong, with median home prices staying consistent and outpacing 2023 levels. This price resilience comes despite fluctuating mortgage rates, which have been very volatile to say the least.. After peaking at 7.62% in October 2023, average 30-year fixed mortgage rates have eased slightly to 6.43% as of October 2024. While rates remain higher than they were just a few years ago, this slight decline provides a bit of breathing room for buyers and sellers alike. It’s a dynamic market, but demand for homes continues to drive steady price growth. - Greg
What's new with Mortgage Rates?
 | Sell Your House During the Winter Sweet Spot Selling your home this winter could give you a competitive edge with fewer listings and more serious buyers—are you ready to seize the opportunity? |
Market Snapshot
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