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Receiving a new member in our family is yet another reason to be thankful this holiday season.
To share my joy and happy holiday wishes with you, below, I've shared a picture of me holding Rosie just days after her birth.
THIS MONTH: CHRISTMAS AND NEW YEAR'S EVE
Next month is the New Year Home Trends for 2025 issue but in this last month of the year, it's all about Christmas and New Year's.
In the Events section, there are so many wonderful holiday centered celebrations to attend. I plan to be at many of these and hope to see you around town.
In the Articles column, you will find beautiful ways to festively enhance both your Christmas and New Year's Eve holidays with abundant ideas on decor, meal planning, cocktails, and more.
You'll also find some gift guides to help you find the perfect present for everyone on your list.
ON THE REAL ESTATE FRONT
Once again, fluctuating interest rates continue to dominate but other indicators point towards the positive.
For one thing, in October, existing home sales rose 3.4% nationally which points to the first time in year-over-year increases in the last 3 years.
Part of this is based on a continuing strong and resilient economy, added inventory, and job gains leading to sales improving in all four regions of the country.
According to Lawrence Yun, Chief Economist at the National Association of Realtors:
"The worst of the downturn in home sales could be over, with increasing inventory leading to more transactions.”
He continued with this thought:
"Additional job gains and continued economic growth appear assured, resulting in growing housing demand. However, for most first-time homebuyers, mortgage financing is critically important. While mortgage rates remain elevated, they are expected to stabilize.”
Current Mortgage Interest Rates as of December 7:
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30 year fixed - 6.96% [last month : 6.89%]
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15 year fixed - 6.27% [last month : 6.13%]
Friends, before I get to the real estate market insights, I hope you will make this the best holiday ever, and if I can help you find your next home, or sell the one you have, I am working through the holidays to help each of my clients find their way HOME..
Why?
Because at the beginning and end of each day, HOME is the very best place to be . . . Allow me to help you find yours!!!
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 OCTOBER
- Pending Sales - increased by 2.0% month over month [while in the regional South they increased by 0.9%]
- Existing Home Sales - increased by 3.4% - month over month
- Home Prices - increased 4.0% - year over year
Challenges:
- Insurance Rates
- Fluctuating Interest Rates
- Financing for First Time Home Buyers
Nationally, the month of October continued to trend toward a Sellers Market with 4.2 months of Inventory.
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