Home Listings Increase at the End of the Year

Home listings increased at the tail end of the year. According to housing market platform Redfin, new home listings increased by 7.6% in the four weeks ending Dec. 15, marking the largest year-over-year rise since June. This trend is driven by several factors, such as improved consumer confidence following the November election and sellers aiming to capitalize on heightened homebuying demand before the end of the year. 

Mortgage-purchase applications are up 18% month over month, and pending home sales are up 4.1%, similar to the increases we’ve seen over the last few months. Like sellers, many homebuyers are feeling more confident about making a big financial move after the summer and early-fall slump. Declining mortgage rates are another reason more buyers are coming off the fence: The weekly average rate has declined for three weeks in a row to a two-month low of 6.6%. It’s worth noting that mortgage rates may have bottomed out for the time being; daily average rates rose above 7%  on December 18 after the Fed signaled it will cut interest rates twice in 2025, instead of four times. Read more