2024 Real Estate News Wrap-up

Weekly Newsletter #69

Quote of the day: "Success is not final, failure is not fatal: It is the courage to continue that counts." – Winston Churchill

What We’re Up To

Welcome to the 69th issue of the TGFLIP Marketing Agency Newsletter!

Our goal with this newsletter is to provide you with the latest news insights, and best practices in marketing, with a focus on real estate and small business marketing.

2024 Real Estate News Wrap-up

Hello there!

As 2024 closes, the real estate market has been a rollercoaster, with elevated mortgage rates, shifting inventory, and significant economic impacts. Let’s break down the top five stories shaping the market this year—and what they mean for you.

1. The Great Rate Hike: Mortgage Rates Hit 20-Year Highs

• This year, mortgage rates averaged 6.73%, the highest in two decades. For buyers, this translated into record-high monthly mortgage payments, pricing many out of the market. While the Federal Reserve made some rate cuts in late 2024, any substantial relief remains a 2025 story.
• Source: here

2. Record-Breaking Prices Meet Seasonal Declines

• In June, the median home price hit an all-time high of $426,900. However, by year-end, prices cooled to $400,000, following traditional seasonal trends. Still, the affordability crunch persisted, driven by the combination of high prices and elevated borrowing costs.
• Source: here

3. Inventory’s Slow Comeback

• 2024 saw an inventory rebound to the highest levels since 2020, providing some breathing room for buyers. Yet, inventory remains below pre-pandemic norms, and high mortgage rates continued to limit demand. The result? A market with more listings but fewer active buyers.
• Source: here

4. Economic Resilience in Uncertain Times

• While the housing market struggled, the U.S. economy thrived in other areas, with strong job growth, low unemployment, and reduced inflation. However, upcoming tariffs from the new administration could increase construction and material costs, potentially impacting future home prices and inventory levels.
• Source: here

5. 2025 Outlook: Stable Prices, Rising Costs?

• The incoming administration’s policies, including tariffs and potential labor shortages in agriculture and construction, are expected to influence the housing market in 2025. Experts predict stable home prices but slower growth, coupled with rising construction costs that could delay new developments.
• Source: here

Looking to Market Your Properties in 2025?

At TGFLIP Marketing Agency, we specialize in helping property professionals—like contractors, roofers, and property managers—connect with the right buyers. From detailed buyer lists to standout video marketing campaigns, we tailor our strategies to your business needs. Let’s make your listings shine and your sales soar!

Contact us today to see how we can help boost your marketing efforts and reach more buyers effectively!

That’s your 2024 real estate news wrap-up! Stay tuned for more insights next year.

Wishing you a profitable year ahead,

TGFLIP Marketing Team