Coldwell Banker Affiliates President Jason Waugh joins Wealth to discuss housing market dynamics heading into 2025.
Waugh highlights continued growth in both pending and existing home sales data. “As inventory continues to grow … certainly we expect affordability to ease,” he tells Yahoo Finance.
According to Waugh, the housing market faces a supply challenge rather than a demand issue. He emphasizes the need for “more stability” in interest rates, suggesting that once rates become “less volatile,” the market will “adapt,” leading to increased inventory and stronger consumer confidence.
Currently, luxury buyers are dominating the market. Homes valued at $1 million or more experienced a 25% year-over-year increase in November. Waugh notes, “That community is certainly less dependent on the interest rates.”
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