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February 12 2025

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Reef Daily | February 12 2025

Housing Market Update

Latest Market Data (February 12, 2025)

New listings surged 7.9% year-over-year, marking the largest increase in five weeks.
Median home sale price rose 4.6% annually to $376,750, while the typical home sold for 1.8% below asking price—the largest discount in nearly two years.
Pending sales fell 8.1% year-over-year, reflecting cooling buyer demand.
Active listings grew 12.5%, providing buyers with more inventory.

Mortgage Rates

Current Rates as of February 12, 2025:

Type	Today’s Rate	Last Week’s Rate
30-year fixed	6.91%	6.95%
15-year fixed	6.23%	6.24%
5/1 ARM	6.12%	6.15%

Future Forecasts

January’s CPI report showed annual inflation at 3%, with core inflation rising 0.4% monthly, reinforcing the Federal Reserve’s stance to delay rate cuts.
Traders now price in only one Fed rate cut in 2025, down from earlier expectations.

Notable Transactions

Market Indicators

Inventory Trends

Months of supply reached 5, the highest since February 2019, signaling a more balanced market.
56% of listings remained active for over 60 days, easing buyer competition.

Regional Developments

West (Orange County, CA): Detached home sales surged 33.3% year-over-year, with median prices up 5.9% to $1,376,389.
Midwest (Chicago, IL): Foreclosure starts led major metros with 1,168 filings in January.
Northeast (New York, NY): Luxury properties accounted for 33% of inventory but only 16% of demand.
South (Houston, TX): Ranked third in foreclosure starts (932) behind Chicago and New York.

Sources

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

© 2025 Reef Insights. All rights reserved.

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