US Housing Market May See a Turn in 2025

Homebuyers and homeowners have been waiting on the sidelines of the U.S. housing market for years now, holding back for the right moment to buy and sell. Could this finally be 2025? Experts think there's a chance both might get lucky next year—as long as they're in the right place at the right time. This year has been something of a tug of war between supply and demand for the U.S.

housing market, according to Moody's Analytics economist Matthew Walsh: aspiring homebuyers largely couldn't afford to buy properties because of high mortgage rates and high prices, driven up by stubbornly low inventory. 'I think broadly you can kind of characterize the housing market as being frozen over 2024,' Walsh told Newsweek. 'Demand remained mostly low, and its weakness is evident in the existing home sales data, which is kind of trending near recessionary low,' he added. 'Existing home sales are largely where they were at the depths of the great financial crisis, mostly due to high interest rates,' he continued. 'On the supply side, inventories remain very low and that has kept a floor on house prices.' Home appreciation in the U.S., according to Moody's Analytics' data, was up 4 to 4.5 percent in 2024 compared to the previous year. 'That's largely due to two simultaneous reductions in supply and demand,' Walsh explained. 'It was largely similar to 2023 in terms of the dynamics of upward demand above supply, but I think that is shifting as we enter the final months , with more inventory coming online and a bit slower home price appreciation.' This trend that has manifested in the final year of 2024 is expected to continue next year, Walsh said, as he expects inventory to grow thanks to both homeowners having gotten accustomed to the high mortgage rate environment, and new construction finally reaching the market. 'That'll help bring the market a little bit closer back to balance while demand remains low,' he said

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