January 16 2025

Reef Daily

Reef Daily | January 16 2025

Housing Market Update

Latest Market Data (January 16, 2025)

Total foreclosure filings decreased 10% in 2024 compared to 2023, affecting 322,103 U.S. properties
Foreclosure starts declined 6% nationwide in 2024, with California, Florida, and Texas seeing the highest numbers
Core inflation showed positive signs, dropping to 3.2% in December

Mortgage Rates

Current rates as of January 16, 2025:

Type	Today's Rate	Last Week's Rate
30-year fixed	7.13%	7.03%
15-year fixed	6.38%	6.32%
5/1 ARM	6.39%	6.19%

Future Forecasts Fed Governor Christopher Waller indicated rate cuts could come sooner and faster than expected if disinflation continues

Notable Transactions

Commercial Highlights

Perry Wisdom Barrett Real Estate in Dallas achieved over $500 million in sales for 2024
Kering and Ardian signed investment agreement for three prime real estate properties in Paris

Regional Activity South: Dallas luxury real estate team expands with new high-performing member after $500M+ in 2024 sales West: No significant updates Northeast: No significant updates Midwest: No significant updates

Market Indicators

Inventory Trends Total housing inventory reached 1.33 million units by end of November, up 17.7% from previous year

Foreclosure Activity States with highest December foreclosure rates:

Nevada (1 in 2,707 housing units)
Indiana (1 in 2,833 housing units)
Maryland (1 in 3,253 housing units)

Regional Developments

South Dallas luxury real estate market shows strength with top-producing team expanding

West Pending sales declined due to California wildfires and high housing costs

Northeast No significant updates

Midwest No significant updates

Sources

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