Real Estate News 01/13/2025

Today’s News Synopsis:

In The News:

CBS News – “Will mortgage rates fall below 6% in 2025? What experts say“ (01-13-25)

“Some mortgage professionals see the potential for a gradual decline in mortgage rates this year, while others warn that current rates might be here to stay.”

Realtor.com – “Home Prices Are Falling Fast in These 10 Pricey and Popular Cities“ (01-10-2025)

“The residential real estate market is slowly shaking off the cobwebs of a sluggish year of buying and selling, and quick-thinking homebuyers stand a good chance of snapping up a property at a lower price than in 2024—if they know where to look.”

Redfin News –  “Home Tours Rise Modestly to Start 2025, But That Hasn’t Translated to More Sales“(01-09-25)

“More house hunters are hitting the pavement as the new year starts, but pending home sales are down as daily average mortgage rates hit a seven-month high. ”

FOX Business –  “California insurance crisis: List of carriers that have fled or reduced coverage in the state” (01-10-25)

“The wildfires ravaging Southern California are expected to add further fuel to the state’s ongoing insurance crisis, as residents’ options for property coverage continue to dwindle or even disappear. ”

LA Times –  “Rents likely to balloon in wake of L.A. wildfires, experts say” (01-10-2025)

“The massive wildfires in Los Angeles will worsen the region’s housing affordability crisis through higher rents and challenges with insurance, contracting and permitting among others, experts said.”