https://amzn.to/4dyFiAI
Category
🎵
MusicTranscript
00:00More than 80% of Americans believe it's a bad time to buy a house, but new analysis of the market shows
00:072025 will be friendlier to buyers.
00:11Realtor.com, which Fox shares common ownership with, sees existing home inventories expanding by nearly 12%,
00:18while construction of new single-family homes grows almost 14%.
00:23The result is the highest for sale inventory since December 2019, and more homes
00:30means more buyer options.
00:32Chief economist Danielle Hale sees Trump giving builders a boost.
00:36We've got a big deficit over the last decade.
00:38We haven't built enough homes, so there's plenty of opportunity, and we do think builders are going to try to close that gap.
00:44I think the incoming administration talked a lot about opening up federal lands, cutting through regulation.
00:50Those kind of steps could make it easier for builders to fill that gap.
00:53Realtor.com sees mortgage rates falling from today's 6.8% average to 6.3% on average over the course of the year.
01:03That's much better than the 7.22% high we saw this year, but well below near-term lows in the threes.
01:10So, slight improvement there.
01:13As they've done for years, prices will continue to rise next year, though by far less.
01:18Realtor.com sees a 3.7% bump to prices.
01:22But there's a twist here.
01:23Realtor.com also says 20% of houses are currently listing with price cuts.
01:30Meanwhile, a slight decline, 0.1% in rents.
01:33More multifamily rental construction expected to be swapped by more renters.
01:39The best advice we've been getting comes from realtors themselves, who encourage buyers to get in the market and buy now and refi when rates finally make a move lower.
01:49They say, date the rate, marry the house.
01:53In New York, Sherri Willis, Fox Business.