New purchase demand jumped 11% last week.  Consumer sentiment and confidence seems to be high! Was last weeks bump just a blip or will the momentum continue as we enter the spring market?

*Experts- 2025 will be a renters market.... But not for this kind of property??? While rent prices for apartment buildings are flattening out because of a supply increase, single-family rentals did not see that same level of construction which will be keep available supply low..

Applications to refinance a home loan, which are most influenced by weekly rate changes, climbed 16% from the previous week and were 90% higher than the same week one year ago. The vast majority of borrowers today have rates well below what is available today, but those who bought in the last two years, when rates were higher, may now be able to get some savings. The percentage increases are large mainly because the total volume is still quite low.

U.S. Tariffs are about to effect Lumber, gypsum for drywall, and home appliances are expected to be impacted by tariffs on Canada, Mexico and China.

Forecast look to increase builder costs anywhere from $7,500 to $10,000 per home, said Rob Dietz, chief economist at the National Association of Home Builders, citing estimates from U.S. homebuilders. The greatest impact to homebuilders will be from lumber cost increases, which are expected to total about $4,900 per home on average.

With home prices already at record highs and President Trump’s mass deportation plans already in effect, further pressure on the housing market could be stressed with reducing the construction labor force.Additionally, tariffs on lumber and building materials sourced from Canada and Mexico could make homes more expensive and freeze out potential homebuyers.

Mortgage demand dropped 22% to end 2024. Real estate experts predict 2025 to be a bumpy ride in housing!

Mortgage demand drops to its lowest level since July, as interest rates return to peak summer highs.

New Home Sales rise 4.1% in September!

‘Home Alone’ house in the Chicago suburbs hits the market- The 9,000sqft home will cost you a whooping $5.25 million. According to Zillow, this is the first time the home has been on the market since 2012, when the current owner bought the property for $1.58 million.

Pending Home sales slump to the lowest level since the start of the pandemic!