Real Estate Stats: 10/14-10/21

Keenan Coit, Coldwell Banker Distinctive Properties

October 21, 2024

Fannie Mae economists predict that the ongoing strength of the U.S. economy will continue to drive home prices upward, while mortgage rates may not decrease as quickly as previously expected. Although home sales are forecasted to rise by 10% in 2025, affordability challenges remain, especially for first-time buyers.

Mortgage rates are expected to dip below 6% in 2025, but recent economic growth has caused rates to increase, adding uncertainty to the forecast.

Key Projections:

  • Home sales expected to grow 10% in 2025.

  • Home price appreciation slowing to 3.6% by the end of next year.

  • Mortgage rates projected to fall below 6% in early 2025.

Home Sales Growth

Tight inventory, driven by the "lock-in effect," continues to support home prices, while new home sales remain a bright spot in the market.

Mortgage Rate Trends

In Mesa County

There are currently 663 active homes on the market in Mesa County. This is a 1% increase compared to a week ago.

The average sold price YTD is $453,594 and the median sold price YTD is $400,000.

93 New Listings

Click here to view the new listings from the last week.

73 Sold Listings

Click here to view the sold listings from the last week.

Mortgage Rates Today

In the KEY of KEE

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