Reef Daily | February 10 2025

Housing Market Update

Latest Market Data (February 10, 2025)

• National median home price rose 4.8% year-over-year to $410,100 in Q4 2024, with 89% of U.S. metros seeing price gains.
• Double-digit price increases reported in 14% of markets, up from 7% in Q3 2024.

Construction Activity

• $30M bond financing secured by Brilliant Corners for a 78-unit affordable housing project in Alondra Park, CA.

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Mortgage Rates

Type	Today's Rate	Last Week's Rate
30-year fixed	6.92%	6.97%
15-year fixed	6.21%	6.22%
5/1 ARM	6.27%	6.32%

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Notable Transactions

Commercial Highlights

• Gemdale USA sold 4500 Park Granada, a Calabasas office building, for $69M (all-cash deal).
• Bolour Associates closed the $23.9M sale of Cerro, a Mission Viejo office property.
• Westport Properties acquired a 271K SF self-storage portfolio in Carson and Carlsbad.

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Market Indicators

Labor & Economic Data

• U.S. jobless claims rose to 219,000 for the week ending February 1.
• Q4 2024 labor productivity increased 1.2%, while unit labor costs climbed 3%.

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Regional Developments

West (CA)

• CinemaWest Beach Cities reopened a 16-theater complex in El Segundo, with a 4DX auditorium opening in March.

South

• Nashville home closings reached 1,905 in January 2025, up 1% year-over-year.

Northeast

• Home prices surged 10.6% year-over-year, the highest regional gain in Q4 2024.

Sources

1. bisnow.com
2. greaternashvillerealtors.org
3. noradarealestate.com
4. bloomberg.com
5. manufacturing.net
6. cautiousoptimism.news
7. artemis.bm
8. bizjournals.com
9. marketbeat.com
10. home.saxo
11. bloomberg.com
12. crypto.news
13. worldpropertyjournal.com
14. lucas-real-estate.com
15. cnn.com
16. servicelinkauction.com
17. redfin.com
18. wiserinvestor.com
19. krdonewsradio.podbean.com
20. fortune.com
21. bizplanr.ai
22. moving.com
23. costar.com
24. fortune.com
25. youtube.com
26. instagram.com
27. finance.yahoo.com
28. investopedia.com
29. apolloacademy.com
30. tradingeconomics.com
31. finance.yahoo.com
32. nytimes.com
33. msci.org
34. finance.yahoo.com
35. post-gazette.com
36. reuters.com
37. nbcnewyork.com
38. finance.yahoo.com
39. morningstar.com
40. cnbc.com

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