Real Estate News 03/12/2025

Today’s News Synopsis:

In The News:

PR Newswire – “U.S. Housing Market Faces 4 Million-Home Shortage–Realtor.com® Calls on Lawmakers to Let America Build“ (03-10-25)

“At the current pace, closing the housing gap would take an estimated 7.5 years nationwide—3 years in the South, 6.5 years in the West, 41 years in the Midwest, and the Northeast making no progress“

CNBC – “Weekly mortgage demand surges 11% higher, as interest rates dropped for the sixth straight week” (03-12-2025)

“The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances, $806,500 or less, decreased last week to 6.67% from 6.73%.”

Yahoo Finance –  “CPI inflation data cools in February, easing investor fears about the health of the US economy” (03-12-25)

“February’s Consumer Price Index (CPI) report showed inflation pressures eased in February, calming some fears about the health of the US economy during a rocky few weeks for markets.”

Redfin News – “The Typical U.S. Homeowner Stays Put For 11.8 Years. In Parts of California, It’s Closer to 20 Years.” (03-12-25)

“The typical Los Angeles homeowner stays put for 19.4 years, longer than any other U.S. metro and the longest span on record for the area. Nationwide, median homeowner tenure is down from its pandemic peak, but nearly double what it was in the early aughts.”

CNN Business – “Trump imposes sweeping 25% steel and aluminum tariffs. Canada and Europe swiftly retaliate” (03-12-25)

“President Donald Trump imposed sweeping 25% tariffs on all steel and aluminum imported into the United States Wednesday, a policy aimed at leveling the playing field for US manufacturing but a move that threatens to drive up prices on a broad range of consumer and industrial goods for Americans.”