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Existing Home Sales Show Signs of Resurgence

Existing Home Sales Show Signs of Resurgence

Despite recent challenges, the U.S. housing market is poised for a resurgence in 2025, offering promising opportunities for buyers, sellers, and investors alike.

In 2024, existing-home sales dipped to 4.06 million units – the lowest since 1995- primarily due to elevated mortgage rates hovering between 6% and 8%. However, a shift is on the horizon. The National Association of REALTORS® (NAR) forecasts a rebound, projecting 4.5 million existing-home sales in 2025 and anticipating the 30-year fixed mortgage rate to average around 6%. This rate adjustment could enable approximately 6.2 million households to afford median-priced homes, marking a significant improvement in affordability.

Inventory levels are also showing positive trends. By December 2024, the number of homes available for sale increased by over 16% year-over-year, providing buyers with more options. This uptick in inventory, coupled with stabilizing mortgage rates, is expected to invigorate market activity.

Home prices continue to reflect the market’s resilience. The median existing-home price reached $404,400 in December 2024, a 6% increase from the previous year. This consistent appreciation underscores the enduring value of real estate investments.

First-time buyers are gradually re-entering the market, accounting for 30% of home purchases in November 2024, up from 27% the previous month. While still below the historical average of 40%, this increase indicates growing confidence among new entrants

Builders are responding to the demand by increasing new-home construction. NAR anticipates 1.45 million housing starts in 2025, predominantly single-family units. Notably, townhome construction surged, with single-family attached starts rising 27% in Q4 2023 compared to the same period in 2022, highlighting a shift towards more affordable housing options.

In summary, the housing market is on an upward trajectory. With anticipated mortgage rate stabilization, increased inventory, and robust construction activity, 2025 is shaping up to be a favorable year for real estate. Whether you’re considering buying, selling, or investing, the coming months present a window of opportunity to engage with a revitalizing market.

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Cheri represented us on the purchase and close of our home to an area we were new to. She was very knowledgable and helped us to get settled along the way. Pleasure to work with! Very well respected in her field of work.~ Koena T.
Coastline Properties is a very qualified Real Estate Agency in Corpus Christi, TX. They have great knowledge of the market, are proficient and very personable. I Have recommended several clients to them with like results.~ John L. Sullivan
Recently I asked my 10 closest friends who they would vote for as North Padre Island''s top Realtor; emphatically every single one of them came back and said "Cheri Sperling." This is why I trust Coastline Properties for all my real estate transactions.~ Alex K.
Absolute Best Corpus Christi Realtor!! Cheri Sperling from Coastline Properties came to our rescue, and we finalized the deal that closed on 04/09/12. Her impeccable communication skills helped us to truly create a win/win transaction. Her patience, commitment to people’s feelings and knowledge of Real Estate Law make her an outstanding Realtor. After dealing with a horrible Commercial Realtor trying to sell our business building that just wasn't going anywhere. We called Cheri, today I feel so blessed with the deal that she helped us negotiate. Thank You for everything Cheri....you are THE BEST!~ Astoria Properties, LLC
It is with our utmost privilege we endorse Coastline Properties! We have known Cheri Sperling for at least 15+ years. As a real estate professional and dear mutual friend! Thanks to Cheri we have been avoided many costly mistakes, in connection with the various houses she has shown us over the years. Her expertise and valuable advice, has prevented us numerous unnecessary expenses that could have had traumatic lasting affects!~ William & Norma Twijnstra
In the 37 years that I have lived in Corpus Christi, I have been involved in the purchase or sale of Real Estate 16 times. In the last three, my wife and I have been represented by Cheri Sperling of Coastline Properties. I highly recommend Cheri Sperling and feel she is the finest realtor I have ever had the pleasure of dealing with. She is knowledgeable, honest, energetic and dependable. Not only does Cheri know all of the ins and outs of the local real estate market and the applicable rules and regulations, she is willing to always go the extra mile to make the deal work and take the burden off of her client in the process. If I ever find myself in another real estate transaction in the future, I will make every effort to have Cheri Sperling represent me.~ Michael O’Reilly, P.C.
Cheri, Thank You for visiting with me this morning. I learn much from you. It is always so pleasant to walk into Coastline as I am always warmly greeted, the office is very inviting and full of helpful information for your clients. I am grateful for you putting 14318 Caribe Dr. on your calendar for October 9. I am excited about you and the agents seeing every nook and cranny that this amazing home has to offer.Have a great weekend..~ Mary Melick Real Estate
Cheri, We will always have fond memories of our time in Corpus Christi and our relocation experience because of you. You have done an outstanding job not only in buying and selling our house but throughout the entire relocation process creating a seamless transition. If we ever return to the Corpus Christi area, we know who to call. Thank you so much!~ Ken, Padre Islander
Thanks to Tara Gallaspy for doing such a great job on our recent home sale! It was nice to leave the job in such a capable person's hands and not have to worry about the myriad of details that take place in order to finalize a sale. Our house had a contract one week from listing, and the closing went off early without a hitch. Tara also went above and beyond between those two events. I would never hesitate to recommend her to a friend.~ Shannon Trial, Padre Islander