Homebuyer in demand in early 2025 has fallen again, with mortgage applications to buy a home down 63% from the pandemic peak.
Access the price forecast for your area on Reventure App: http://www.reventure.app
This data comes from the Mortgage Bankers Association. And suggests that the spring 2025 housing market will see empty open houses and price cuts.
With home prices now starting to drop already in a variety of different states, including Texas, Florida, and Colorado. Home value forecasts for 2025 on Reventure App suggest declining prices could spread to about 10-15 states by the end of the year.
The big issue in the market right now is that home prices are still near record highs adjusted for inflation, and that mortgage rates are staying stubbornly above 7%. The result is record-worst home-buyer affordability, and declining demand.