Mortgage rates are expected to average 6.3% in 2025, slightly down from 6.7% in 2024, while home prices are projected to rise by 3.7%. Sales of previously owned homes may increase to 4.07 million, but remain below historical averages. The supply of homes for sale is anticipated to improve by 11.7%, and new-home construction will rise by 13.8%. Rental asking prices may drop slightly by 0.1%, with a robust multifamily construction pipeline expected to continue. Overall, the market is shifting towards a more balanced environment for buyers and sellers.
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