Predictions, Insights and Forecasts
Reported by FMLS’s Chief Economist
Leslie Appleton-Young
Current Key Market Statistics
Entire FMLS Area, December 2024 (compared to December 2023)
$510,611
Average Sales Price
+5.1% Residential Detached
23,415
Homes for Sale
+40.2% All Property Types
95.7%
Percent of Original
List Price
6.84%
30-year Interest Rates
December 2024
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December 18, 2024 – Latest episode
Get ready for the final market update of 2024! In this special edition of our intel report, Leslie breaks down the ups and downs of the past year—highlighting the impact of fluctuating interest rates and what to expect as we move into 2025. Our Chief Economist has compiled the key insights you need to navigate the shifting market, offering expert predictions and strategies to help you stay ahead. Take a few minutes to dive into this essential update and set yourself up for success in the new year!
December 4th, 2024
Chief Economist Leslie Appleton-Young discusses the 2025 conforming loan limit increase to $806,500 is a positive development for Georgia’s housing market, offering buyers easier access to financing. However, mortgage rates, a key factor in market activity, are expected to remain above 5.5% through the first half of 2025. Despite a recent uptick in national and local sales, the outlook for housing remains closely tied to future rate movements and inflation trends. Buyers can benefit from strategies like improving credit scores, exploring down payment assistance programs, and utilizing mortgage tools such as the 2-1 buy-down.
November 22, 2024
In this episode of the FMLS Market Intel Report, Leslie Appleton Young discusses the latest market data and trends. The Fed recently cut rates by 0.25% and inflation is showing signs of stabilizing, though some volatility remains. The NAR 2025 forecast predicts gradual housing market improvement, with higher sales and moderating price growth. Key buyer groups include cash buyers, multigenerational households, and single women, despite ongoing affordability challenges. Leslie advises real estate professionals to consider current rates as a potential opportunity and explore financing options like ARMs and down payment assistance for buyers.
November 4th, 2024
Chief Economist Leslie Appleton-Young discusses how FMLS market statistics indicate a stabilizing and strengthening market. With September closings increased by 5.2%, the first rise in some time, and October’s rolling four-week average also rose by 5.2%.
Leslie notes that local data is more favorable than the recent report from the National Association of REALTORS, which indicated a 3.5% year-over-year decline in sales. In contrast, new listings in the FMLS market have increased by 5.2%.
October 10, 2024 FMLS released the first installment of Market Intel.
Chief Economist Leslie Appleton Young discusses the recent 50 basis point Fed rate cut, the first since March 2020, which is expected to positively impact the housing market by improving affordability for buyers.
Mortgage rates have decreased from nearly 8% to 6.09%, though many consumers still consider 5.5% the ideal rate for new home purchases. While new listings in September rose by 12% compared to last year, overall inventory remains below pre-pandemic levels.
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