Real Estate News 01/28/2025

Today’s News Synopsis:

In The News:

Realtor Magazine – “Gains in Home Sales Offer Hopeful Sign for 2025“ (01-24-25)

“Home prices are climbing, with the median sales price up 6% in December from last year, hitting a record $407,500 in 2024, per NAR.”

Yahoo Finance – “Tax season kicks off today. There are two big changes to know about.“ (01-28-2025)

“Direct File expands to more states, and payment app users face new rules.”

Redfin –  “Assumable Mortgages: What to Know Before Taking Over a Home Loan“(01-28-25)

“Thinking of buying a home? Assumable mortgages let you take over the seller’s loan, potentially locking in a lower rate and saving money. Perfect for competitive markets like Salt Lake City or Charlotte, but be sure to weigh the terms and costs.”

Realtor.com –  “Buying a Brand-New Home Just Got Cheaper—Especially in These 2 Markets“ (01-28-25)

“The median listing price for a new-construction home in the U.S. inched down at the end of December, compared to the year before—with the South and West emerging as the best places to buy a freshly built house.  ”

CNBC –  “After the wildfires: What a long rebuilding process will look like for Los Angeles homeowners” (01-26-2025)

“The state has fire codes over a decade old, so contractors are attuned to working with fire-resistant materials. But increased demand could stress materials manufacturers, as well as their shippers, distributors and retailers, and ultimately add to home prices.”