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80
January 2025
F I N A L T H O U G H T S
"less buyer competition"
Hannah Jones, Senior Economic Research Analyst with Realtor.com, discussed how easing
competition among homebuyers in Q3 is a result of the yearly drop in down payments. Last
quarter, purchasers had more options due to slowing demand and rising inventory, which resulted
in somewhat smaller down payments.
"a 'silver tsunami'"
Orphe Divounguy, Senior Economist at Zillow, explained that an anticipated influx of properties
from elderly owners who will downsize or otherwise move on "wouldn't really move the needle in
terms of solving the housing affordability crunch," as empty-nest households are primarily found
in more reasonably priced areas where housing is already easier to get.
"a seasonal ebb"
Rob Barber, CEO at ATTOM, revealed a that November's modest drop in U.S. foreclosure
activity likely reflects the seasonal retreat that occurs throughout this time of year, as filings are
down both month over month and year over year.
"a huge incentive"
Lisa Sturtevant, Bright MLS Chief Economist, disclosed that during the pandemic, record-low
mortgage rates significantly encouraged single homebuyers and families to purchase a property.
Due to rising housing prices, many of these purchasers have also been able to swiftly build up
sizable equity in their properties.
"ongoing economic uncertainty"
Liz Powell, Senior Director of INSIGHTS at doxo, described that bills account for almost
one-third of the typical median U.S. income, with nearly three-quarters of consumers having
changed their spending and saving patterns this year, as many Americans continue to feel the
strain on their household budgets.
