As 2025 begins, the U.S. housing market shows encouraging signs of growth, with December 2024 marking a notable improvement in home sales.
🔹 Key Highlights from December 2024
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Increased Home Sales: December saw a 13.3% rise in home sales compared to December 2023, and a 4.4% increase from November 2024. This marks the eighth month in 2024 where sales surpassed those of the previous year.
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Rising Median Home Prices: The median home sales price reached $427,000, up $25,000 from December 2023, indicating a 6.2% year-over-year increase.
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Expanded Inventory: The total number of homes for sale nationwide increased by 22% compared to the previous year, providing more options for prospective buyers.
Erik Carlson, CEO of RE/MAX Holdings, noted, “Affordability remains a challenge for many buyers, but demand persists as people continue to see the value of homeownership.”
🏡 Preparing for Homeownership in 2025
If you’re considering buying a home this year, here are five essential steps to get started:
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Organize Your Finances: Review your financial situation to understand your budget and savings.
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Get Pre-Approved for a Mortgage: This will give you a clear idea of what you can afford and show sellers you’re a serious buyer.
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Connect with a Real Estate Agent: A local agent can provide valuable insights into the market and help you find the right home.
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Determine Your Homebuying Priorities: List your must-haves and nice-to-haves to focus your search.
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Start Searching for Homes: Begin exploring listings that match your criteria and budget.
🤝 The Value of Local Expertise
While national trends provide a general overview, real estate markets can vary significantly by location. Partnering with a knowledgeable local agent ensures you receive tailored advice and support throughout your homebuying journey.
For more detailed information, you can read the full article on the RE/MAX News website: RE/MAX Report: 2024 Ends With a Better Month of Home Sales.