1134 ET - Broader economic factors are expected to have a larger impact on the housing market than potential new federal policies in 2025, Realtor.com says. The 2025 housing forecast sees home sale prices rising by 3.7%, mortgage rates staying above 6%, and rents will remain virtually unchanged. Growth in inventory with single family home starts is expected to grow 13.8% and existing for-sale home inventory is expected to grow by 11.7%, which will help bring the first balanced market in nine years. Home sales will grow 1.5% year over year to 4.07 million. Months' supply is expected to improve from a 3.7 month average in 2024 to 4.1 months in 2025. Anything under four is typically considered a seller's market, while four to six months of supply is typically considered a balanced market. (chris.wack@wsj.com)
(END) Dow Jones Newswires
December 04, 2024 11:34 ET (16:34 GMT)
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