January 02 2025

Reef Daily

Reef Daily | January 02 2025

Housing Market Update

Latest Market Data (January 2, 2025) The number of homes actively for sale has grown by 7.9% compared to last year, with total unsold homes (including those under contract) increasing by 6.5%. New listing activity has shown improvement, with 2.8% more newly listed homes compared to the previous year.

Construction Activity No new construction data has been released in the past 24 hours.

Mortgage Rates

Current rates as of January 2, 2025:

Type	Today's Rate	Last Week's Rate
30-year fixed	6.99%	7.01%
15-year fixed	6.29%	6.30%
5/1 ARM	6.25%	6.21%

Notable Transactions

Commercial Highlights AAA Cooper Transportation acquired an industrial building at 2620 N. 36th in Quincy from YRC Inc. for $4,025,000.

Regional Activity Northeast: Inventory down 6.4% South: Inventory up 8.9% Midwest: Inventory up 2.1% West: Inventory down 11.2%

Market Indicators

Inventory Trends The total number of unsold homes has increased by 6.5% compared to last year. Pending listings have shown a 2.6% increase year-over-year.

Regional Developments

Memphis, New Orleans, and Orlando have seen the highest inventory growth (28.8%, 28.5%, and 27.3% respectively)
Only San Antonio (+24.7%), Austin (+8.2%), and Dallas (+2.3%) are showing higher inventory levels compared to pre-pandemic years

Sources

This newsletter is for informational purposes only and should not be considered as financial advice.