As we wrap up 2024, our team at Long & Foster Real Estate wanted to share some of our predictions for what buyers and sellers might expect in the year ahead.

For Buyers

• Affordability Challenges: Mortgage rates are likely to stay between 5.5% and 6.5%, and home prices may remain high, which could make affordability tricky—especially for first-time buyers.
• Wealth-Building Opportunities: If you’re planning to buy in 2025, you’ll be taking a key step toward long-term wealth. Moving from renting to owning is a powerful way to grow your financial future.
• More Housing Options: We could see more inventory on the market—especially in affordable housing—because of new construction driven by deregulation and federal incentives.

For Sellers

• Increased Competition: With more housing supply, sellers may need to price their homes competitively and focus on making them stand out to buyers.
• Fewer Move-Up Buyers: Higher mortgage rates could make some current homeowners hesitant to sell and trade up, which might limit demand in certain price ranges.
• Policy Shifts: Changes in tax policies or deregulation could impact selling strategies, especially for investors or landlords.

For Everyone

No matter what the market looks like, you’ll feel confident and prepared when you have the right support. Through our team at Long & Foster, you can connect with everyone and everything you need to buy, sell, rent and own real estate—all working for you and your success. It’s our all-inclusive approach to real estate, simplifying and streamlining a normally complex process into an enjoyable experience.

As always, the Long & Foster team is ready to answer your questions or chat about your real estate goals. Find an agent or office near you here.