October 2024 Real Estate Market Update

October 2024 Real Estate Market Update | What to Expect in 2025

Welcome to the October 2024 Market Update! In this video, Herb Rim from The RIM Property Group, eXp Realty, breaks down the latest trends and forecasts for the housing market as we approach 2025.

Here's what we cover:

📉 Mortgage Rates: Expected to ease gradually, reaching the mid to high 5% range, which will improve affordability for buyers.
🏠 Housing Inventory: Signs of recovery are visible, but tight supply may still drive prices upward.
📊 Home Sales: Forecasted to rise to 5.4 million units in 2025, creating more opportunities for buyers and sellers.
💰 Home Prices: Projected to appreciate at a more sustainable 2.5% nationwide, though local variations will occur.
🏡 Buyer & Seller Motivation: As rates drop below 6%, we anticipate increased market activity from both buyers and sellers.
As the market evolves, expert guidance is essential. Herb and The RIM Property Group are here to help you navigate these changes with accurate data and local insights.

Ready to make a move or have questions about the market? Contact us today!
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CONTACT INFORMATION:
Herb Rim
Luxury Real Estate
eXp Realty
323-990-4372
CA DRE: 01870707
HerbRim.com