Reported 2 days ago
The National Association of Realtors forecasts that the average rate for the U.S. 30-year fixed-rate mortgage will be around 6.0% in 2025, potentially boosting housing construction and sales. They project 4.5 million existing home sales and a 2% increase in home prices, with a median existing home price of $410,700. The stabilization of rates could make homes more affordable for approximately 6.2 million households, as current rates near 7% have deterred many from entering the market. The group anticipates 1.45 million new housing starts, primarily for single-family homes, although inventory will likely remain below pre-pandemic levels.
Source: YAHOO