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The year 2024 was one of the most challenging for the U.S. real estate market in recent decades. Millions of Americans faced barriers due to high housing costs, rising mortgage rates, and a significant shortage of supply. According to the National Association of Realtors, home sales in 2024 reached only 4 million, marking the second consecutive year of historically low figures. For comparison, the last time sales were this low was in 1995, when the U.S. population was 22% smaller than today.
The primary issue is a severe housing shortage, driving up both purchase and rental costs. In this climate, buyers, sellers, and renters face uncertainty. Projections for 2025 remain mixed.
Economists are divided on how the market will evolve in 2025. Some believe that an increase in new housing supply could revitalize the market, while others doubt significant improvement is likely.
Analysts expect demand to continue outpacing supply, leading to a 4% increase in prices next year. However, some predict that high interest rates will deter many buyers, with price growth not exceeding 1.9%.
Thus, while the U.S. real estate market remains highly uncertain in 2025, differing opinions among experts and organizations underscore the complexity and multifaceted nature of the situation. The availability of new housing and mortgage rate trends will be key factors influencing market changes.
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