The end of the year is prediction season. Experts and insiders in every industry release future forecasts offering their take on what will happen over the next 12 months. The housing market is no exception. The National Association of Realtors’ consumer website, for example, recently released an outlook for 2025 and it looks to be good news for home buyers. The forecast says the housing market will find better balance in the year ahead, with the number of homes for sale reaching its highest level since 2019. More available homes for sale will result in less competition between buyers and more sellers cutting prices on listed homes. Mortgage rates are also expected to improve in 2025, though the improvement will likely be slow and gradual. Overall, increased inventory will help buyers find better choices and improved conditions but the market will still be costly, according to the website’s forecast. Affordability conditions will remain particularly challenging in areas where inventory has yet to rebound. (source)
