December 2024 Market Update
In October, interest rates climbed back to 7% and have remained above 7% through November. Inventory levels have risen—an unusual trend for this time of year, and one I’ve only seen in the past two years during my 29-year career.
The big question: Will prices or interest rates drop in 2025?
- Prices in most market sectors have already adjusted from 2022 highs. Newer or renovated properties in prime locations are holding value, while average homes face price decreases due to increased competition.
- Interest rates are expected to remain volatile, with potential dips to the mid-6% range in 2025, but a return to historic lows is unlikely.
"As I’ve always advised: prioritize timing your life over timing the market, and only buy a home you can comfortably afford without relying on future rate drops."
What’s Inside the Flipbook?
Explore our digital brochure for deeper insights into the Space Coast luxury and waterfront real estate market. This edition includes:
- Emerging trends and opportunities in the current market.
- Challenges buyers and sellers are facing as interest rates stabilize.
- Expert advice for navigating this evolving landscape successfully.
Whether you're buying, selling, or just curious, this market update has everything you need to stay informed.