It’s all how you look at the numbers.
A new year couldn't have come at a better time for many real estate pros and home shoppers who hope for a more stable housing market after the rollercoaster ride of 2024. With all that in the rearview mirror, we’re comparing fourth-quarter data pulled from Lone Wolf BrokerMetrics from 2023 to 2024 to uncover noteworthy takeaways into the current state—and potential future—of the housing market.
Q4 2024: Steady demands, shifting tides
The housing market saw a 9% increase in the total number of homes available in 2024, indicating that more sellers listed their properties. However, new listings in the fourth quarter dipped slightly by 4%. While inventory expanded, fewer new homes were added to the market.
Home sales under contract experienced a modest 1% uptick, suggesting sustained buyer demand despite market volatility. This steady growth implies that buyer interest remained relatively stable even as housing supply increased.
One of the most significant shifts was a 4% decrease in homes sold from 2023 to 2024, potentially attributed to factors like rising interest rates, affordability challenges, or lengthier transaction timelines.
Perhaps the most striking change was the 39% increase in off-market properties from 2023 - suggesting that many sellers are choosing to remove their homes from the market, likely due to unmet price expectations or changes in personal circumstances.
A glimpse into 2025
To no surprise, the mixed results from the fourth quarter of 2024 show that the housing market is again going through some changes. We're seeing more inventory and stable contract activity, which is a good sign—but declining sales and more properties being taken off the market could reveal some underlying issues.
Take advantage of these insights to better support your clients and adjust your strategies as you head into 2025 with BrokerMetrics.
