Will home prices drop in 2025? Here's what experts say..
As 2025 approaches, buyers and sellers are watching the real estate market closely for signs of change. Industry experts have unique views on whether prices will drop next year.
The presidential election has finally concluded and that barrier of uncertainty has been lifted from the market. For some, this mattered more than others but for the most part the main factors dictating buying/selling decisions right now are still the rates and the outlook on current market conditions. We saw a pretty bumpy market over the past 2 years. The recovery after the pandemic boom has led to some dramatic need for re-balancing and although I think we are on our way to normalcy, we are definitely still working out the kinks and feeling things out day by day. To best gauge where we are headed, I recommend zooming out and looking at the big picture trends; especially those on a local level.
Buyer demand has eased up recently, with September being one of the lowest sales volumes in Bend in almost a decade. But does that mean that the Buyers have up and left the area? Not at all! They are still here and waiting for the next wave of opportunity to jump back in. Our supply is still far behind what is needed to house the demand that Central Oregon is facing and we will continue to stay in a housing deficit for the coming years. I do see rates cooling eventually and prices holding strong or continuing upwards. The best quote I took from the article above sums it up pretty well for what I would recommend to those looking at breaking into the market: "Remember that while interest rates and home prices might shift in the coming year, finding the right home at the right time for your situation matters most." - Greg
What's new with Mortgage Rates?
 | More Homes, Slower Price Growth – What It Means for You as a Buyer Could today’s growing inventory and slower home price growth make this the right time for you to buy? |
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