Looking ahead to 2025, it's important to know what experts are projecting for the housing market. And whether you're thinking of buying or selling a home next year, having a clear picture of what they’re calling for can help you make the best possible decision for your homeownership plans.

Here’s an early look at the most recent projections on mortgage rates, home sales, and prices for 2025.

Mortgage Rates Are Projected To Come Down Slightly

Mortgage rates play a significant role in the housing market. The forecasts for 2025 from Fannie Mae, the Mortgage Bankers Association (MBA), the National Association of Realtors (NAR), and Wells Fargo show an expected gradual decline in mortgage rates over the course of the next year (see chart below):

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It’s no surprise that the upcoming Presidential election might have you speculating about what’s ahead. And those unanswered thoughts can quickly spiral, causing fear and uncertainty to swirl through your mind. So, if you’ve been considering buying or selling a home this year, you’re probably curious about what the election might mean for the housing market – and if it’s still a good time to make your move.

Here’s the good news that may surprise you: typically, Presidential elections have only had a small, temporary impact on the housing market. But your questions are definitely worth answering, so you don’t have to pause your plans in the meantime.

Here’s a look at decades of data that shows exactly what’s happened to home sales, prices, and…

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43W830 Willow Creek Dr, Elburn, IL

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$ CLICK FOR CURRENT PRICE 4 BEDROOMS 3 BATHROOMS 1.01 acres Lot

 

Welcome to 43W830 Willow Creek Dr, a stunning custom 4BR/2.5BA two-story home nestled on a beautifully landscaped 1+ acre lot in Elburn, Illinois. Surrounded by mature trees, this home offers privacy and tranquility, with a charming front porch, a 3-car sideload garage, and an expansive stamped concrete patio-perfect for outdoor entertaining. Inside, the home boasts vaulted ceilings, rich hardwood flooring, and detailed trim work that accentuate the open floorplan. The inviting…

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You won’t find anyone who’s going to argue that mortgage rates have had a big impact on housing affordability over the past couple of years. But there is hope on the horizon. Rates have actually started to come down. And, recently they hit the lowest point we’ve seen in 2024, according to Freddie Mac (see graph below):

No Caption ReceivedAnd if you’re thinking about buying a home, that may leave you wondering: how much lower are they going to go? Here’s some information that can help you know what to expect.

Expert Projections for Mortgage Rates

Experts say the overall downward trend should continue as long as inflation and the economy keeps cooling. But as new reports come out on those key indicators, there’s going to be some volatility here and there.

What you…

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Some Highlights

  • While the number of homes for sale varies by local area, nationally we’re up over 36% year-over-year, but still down almost 29% compared to what’s normal.​
  • Here’s what that means when you buy: more options for your search, more negotiation power for you, it’s more likely sellers will make select repairs, and more moderate price growth.
  • If you want to talk more about what rising inventory means for you, let’s connect.

Originally posted at Simplifying The Market.

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Selling Your Home in Geneva, IL: Top 5 Tips for a Smooth Sale

Selling a home is a significant decision, and if you're a homeowner in Geneva, IL, the journey ahead can be both exciting and challenging. But don't worry! With the right strategy and preparation, you can navigate the process smoothly and secure a favorable outcome. This article covers the top 5 essential steps to help you sell your home in Geneva, IL quickly and efficiently. Whether you’re upgrading to a larger space or downsizing, these tips will ensure you get the best value for your property.

1. Declutter and Stage Your Home to Impress Buyers

The first step in preparing your home for sale is to declutter and stage it effectively. Potential buyers need to visualize themselves…

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Have you ever heard the phrase: don’t believe everything you hear? That’s especially true if you’re thinking about buying or selling a home in today’s housing market. There’s a lot of misinformation out there. And right now, making sure you have someone you can go to for trustworthy information is extra important.

If you partner with a real estate agent, they can clear up some common misconceptions and reassure you by backing them up with research-driven facts. Here are just a few misconceptions they can help disprove.

1. I’ll Get a Better Deal Once Prices Crash

If you’ve heard home prices are going to come crashing down, it’s time to look at what’s actually happening. While prices vary by local market, there’s a lot of data out there from…

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121 S Barton Trl, Batavia, IL

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$ CLICK FOR CURRENT PRICE 2 BEDROOMS 3 BATHROOMS

Welcome to 121 S Barton Trail, a pristine 2BR/2.5BA end-unit townhome in the desirable Deerpath Crossing neighborhood of Batavia, Illinois. This spotless home is truly move-in ready, featuring a landscaped lot, a 2-car attached garage, and a private backyard patio perfect for outdoor relaxation. Step inside to discover a bright and airy space with vaulted ceilings, freshly painted interior, an open floorplan, and neutral decor including new carpet. The inviting living room, complete with a cozy gas log…

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In today's housing market, many sellers are making a critical mistake: overpricing their houses. This common error can lead to a home sitting on the market for a long time without any offers. And when that happens, the homeowner may have to drop their asking price to try to re-ignite buyer interest.

Data from Realtor.com shows the number of homeowners realizing this mistake and doing a price reduction is climbing (see graph below):

No Caption ReceivedIf you’re thinking about making a move yourself, here’s what you need to know. The best way to avoid making a costly mistake is to work with a trusted real estate agent to find the right price. Here’s a look at what’s at stake if you don’t.

Not Paying Attention To Current Market Conditions

Understanding current…

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Selecting the right real estate agent can make a world of difference when buying or selling a home. But how do you find the best one? Here are some tips to help you make that big decision as you determine your partner in the process.

Check Their Reputation

Start by gathering information about agents in your area. From there, try to narrow down the list. Ask the people you trust if they have someone they’d recommend. You’ll want to find an agent with a strong online presence, plenty of positive reviews, and someone whose great reputation truly precedes them. As Freddie Mac explains:

“. . . you may want to look for a real estate agent who specializes in the type of home you’re searching for. For example, if you are looking for an energy-efficient…

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