The biggest surprise this year has been the resiliency of home prices despite high mortgage costs and weak homebuyer demand, suggesting a lesson for 2025.
Home prices nationally will finish the year up again, with the median price of homes going into contract now 6% greater than last year, indicating market strength.
Even though home prices are higher than last year, payments on a median-priced home have become 6% cheaper due to the fluctuating mortgage landscape.
While inventory levels are seeing slight declines, they are still notably lower than previous years, indicating potential stabilization in the housing market.
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