The housing market for 2024 is nearing its end, and experts are now predicting what 2025 will bring. According to a recent report from realtors, home sale prices in the U.S. are expected to grow by 3.7% in 2025, with mortgage rates remaining above 6%.
The report also forecasts single-family home inventory to increase by 13.8%, while existing for-sale home inventory is projected to rise by 11.7%. This is seen as a positive trend, which could lead to the first balanced market in nine years.
Buyers are expected to face higher mortgage rates and home prices but will experience a “friendlier, less competitive” housing market compared to previous years. The report notes that nearly 20% of listings will come with price cuts, making it more buyer-friendly.
In Jacksonville, year-over-year prices are predicted to rise by about 9.8% in 2025, and sales growth is estimated at around 13.5%. Inventory is also expected to increase, with an estimated 11.7% in 2025.
The report suggests that 2025 will see a balanced market, with a supply of around 4-6 months, indicating a neutral market where neither buyers nor sellers hold the upper hand. However, limited inventory and strong demand may still favor sellers in negotiations.
Source: https://eu.jacksonville.com/story/business/real-estate/2024/12/23/jacksonville-home-sale-prices-to-grow-more-than-national-average-in-2025/77070618007