The Real Estate Wire | NEWS

While Massachusetts sees a home value surge of over $78,000, states like Idaho experience declines. Real estate dynamics differ across regions, influenced by demand, supply, and economic factors.

Mortgage rates dropped to 6.64% as new U.S. tariffs heighten trade war fears. Investor behavior shifted towards bonds due to recession risks, while potential Fed rate cuts loom amid inflation threats.

President-elect Trump vows to expedite the federal permitting process for infrastructure and energy projects exceeding $1 billion. This could significantly alter the National Environmental Policy Act and reduce approval times, attracting investments.

Pending home sales cancellations hit a record high in January, with 41,000 agreements called off, now 14.3% of transactions. Economic and political uncertainties, along with high mortgage rates, fuel buyer apprehension.

Existing home sales in the U.S. increased by 3.4% in October 2024, reaching a seasonally adjusted rate of 3.96 million units. This improvement followed over three years of declining sales and suggests a potential recovery in the housing market.

With winter's lower competition, motivated sellers, and historically lower prices, now is an ideal time for buyers to strike a deal—avoiding the spring rush and potential price hikes.