Mortgage rates are expected to fall in 2025, increasing your buying power.
What does the housing market hold for 2025? Before we discuss this, all of us at The Downing Group are thinking about and praying for the victims of Hurricane Helene. Many of us, along with our clients, have been personally affected. We are actively involved in the relief efforts, and if you would like to join us or help in any way, please let us know.
Now, let’s turn our attention to an essential update on the housing market. Here’s what experts are seeing to happen in 2025:
Mortgage rates are declining. Experts predict a steady decline throughout the year. The path may not be entirely smooth, with some fluctuations along the way, but the overall trend points toward lower rates. This shift could significantly boost your buying power.
Increased activity in the housing market. As mortgage rates drop, we can expect more homebuyers and sellers to return to the market. This increased activity means more homes will be available, giving you more options. However, it also means more buyer competition, which could slightly drive home prices. This renewed demand is expected to keep upward pressure on home prices, leading to a healthier and more balanced housing market.
Home prices are projected to rise by 2.5% nationally. However, this percentage can vary depending on your local market. If you’re interested in learning more about price trends in our area, I can provide specific insights to help guide your decisions.
It is essential to consider how these trends could impact your home-buying or selling goals. If you have questions about managing the evolving housing market or want to discuss your real estate plans, please contact me at (803) 924-0564. I’m here to help you make informed decisions that align with your goals.
Again, let us know if you want to help with Hurricane Helene’s relief efforts. We’re here to support our community.
