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THIS MONTH: WHAT'S HOT FOR 2025 -- THE HOME TRENDS ISSUE
I love creating the New Year issue because prior, I research new home trends to find out what's hot and what's not.
In this issue, you will find what's hot in kitchens, bathrooms, living rooms, decor, interior design, interior and exterior paint colors, smart home devices, and more. Scroll down to the Curated Content column to learn more.
In the Events column, several fun outings to get the year started including those heralding the start of the Mardi Gras season.
In the Farmers Markets column, I've aded several new finds for you to visit!
Then in the Community Spotlight column, I was so happy to be a part of the Coats for Christmas drive of the One Better World Project so I've included an update of outcomes. Many thanks to those who shared their generosity to make 2024 a success!
And as always, a Calendar of Holidays, my Listing and Clients of the Month.
ON THE REAL ESTATE FRONT
The big news here are the positive market changes and indicators.
Considering that on the national front, data lags one month behind, observe this recent data from the National Association of Realtors:
- Pending home sales in November increased by 2.2% for the 4th straight month
- Contract signings grew in all 4 U.S. regions
- Existing homes sales increased 4.8% in November
- Sales accelerated 6.1% from 1 year ago; the largest year-over-year gain since June 2021
- The median existing home sales price rose 4.7% from November 2023 to $406,100; the 17th consecutive month of year-over-year price increases
According to Lawrence Yun, Chief Economist of the National Association of Realtors:
"Home sales momentum is building. More buyers have entered the market as the economy continues to add jobs, housing inventory grows compared to a year ago, and consumers get used to a new normal of mortgage rates between 6% and 7%."
Current Mortgage Interest Rates as of December 7:
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30 year fixed - 6.67% [last month : 6.96%]
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15 year fixed - 6.00% [last month : 6.27%]
A closing thought: As per Yahoo Finance, in 2025, rates are expected to somewhat decrease, but not dramatically. Therefore it is considered that now may be a good time as any to buy your next home! Or if you want to get ahead of the Spring market, now may be a great time to list your home as well.
MARKET HIGHLIGHTS
Below, please find national real estate housing data and infographics from the National Association of Realtors. Keep reading to view the summary for the Louisiana market and in particular, St. Tammany and Tangipahoa Parishes.
We think you'll be most interested in what is happening here, but it helps to be aware of national market trends.
Please keep in mind that on the national level, data lags one month behind.
NATIONAL SNAPSHOT FOR NOVEMBER
- Pending Sales - increased by 2.2% month over month [while in the regional South they increased by 5.2%]
- Existing Home Sales - increased by 4.8% - month over month
- Home Prices - increased 4.7% - year over year
Challenges:
- Insurance Rates
- Fluctuating Interest Rates
- Financing for First Time Home Buyers
Nationally, the month of November continued to trend toward a Sellers Market with 3.8 months of Inventory.
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