The surveyed pool indicates a pessimistic outlook for mortgage rates, with only 52 respondents anticipating sub-6% rates by the end of 2025, while most expect a longer timeline. This expectation reflects concerns over elevated bond market rates. Despite low home sales in 2024, respondents predict a slight growth in 2025, estimating 4 to 4.2 million sales. However, a notable 22% remain bearish, foreseeing a decline in sales. Overall, the forecast suggests a cautious yet hopeful sentiment among industry executives.
Most respondents in the survey do not anticipate sub-6% mortgage rates in 2025 and project modest growth in home sales, between 4 to 4.2 million.
We wanted to know when the audience expects to see sub-6% again. Most were not expecting it in 2025, with some pessimistic about rates being years away.
Simonsen mentioned that 22% of the respondents are bearish for 2025, expecting home sales to decline further from the already very low numbers.
Most of the respondents remain optimistic for some growth in home sales in 2025, projecting 4 to 4.2 million sales, which would signify under 5% growth.
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