Housing Market Trends and Economic News Update: January 3, 2025

Thompson Kane’s team is dedicated to helping our community track the ever-evolving landscape of the housing market trends. Here are this week’s latest developments:

Housing Market Trends

• Pending Sales Climb: November saw a 2.2% uptick in pending home sales, marking four straight months of growth and reaching the highest levels since early 2023.
• Inventory Relief: Housing supply improved in November, hitting a four-year high. Over half of all listings remained on the market for more than 60 days.
• Rising Costs: Insurance and property taxes now account for 32% of the average single-family mortgage payment—the highest percentage ever recorded.

Economic Highlights

• Jobless Claims Drop: Weekly unemployment claims unexpectedly decreased, signaling low layoff rates and a robust labor market as 2024 draws to a close.
• Stock Market Optimism: Investors project a strong U.S. stock market in 2025, which could bring a third straight year of solid gains.
• Labor Market Pressure: Lower immigration rates may create a labor shortage, potentially hindering job growth and fueling inflation concerns.

Keeping you up-to-date with the constantly changing housing market

At Thompson Kane, we understand the importance of staying ahead in a rapidly changing market. Our goal is to equip you with the latest insights to help you make informed decisions. The right insight will help you confidently navigate your business and financial endeavors. For more frequent updates, follow the Thompson Kane Newsfeed and connect with us on Facebook for bi-weekly news and valuable content. Your success is our priority, and we’re here to keep you informed every step of the way.

“The secret of getting ahead is getting started.”
– Mark Twain

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