According to national brokerage Redfin, U.S. homebuyers currently have the most options available since 2020. However, rising housing costs are deterring many from making purchases, making monthly mortgage payments increasingly difficult.
According to the National Association of Realtors' latest quarterly report, 89% of U.S. metro markets (201 out of 226) saw home price increases in the fourth quarter of 2024. During this period, the 30-year fixed mortgage rate ranged from 6.12% to 6.85%.
According to Knight Frank's latest Prime Global Cities Index, the growth of prime residential property prices worldwide is slowly gaining momentum. The annual growth rate climbed in the final quarter of 2024, reaching 3.2%. Although this marks an improvement from the previous quarter, it remains below the 20-year average of 5.3%.
The construction industry had 217,000 job openings as of December 31, 2024, according to an analysis by Associated Builders and Contractors (ABC) based on data from the U.S. Bureau of Labor Statistics' Job Openings and Labor Turnover Survey (JOLTS).
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