JP Morgan unveils major 2025 housing market prediction
The housing market has been tumultuous over the past few years, fueled by inflation, surging mortgage rates, and economic and political uncertainty.
Unfavorable conditions and general uncertainty have made home buyers wary of entering the housing market, driving demand down and further restraining recovery and growth.
Though initial projections for 2025 looked promising, mortgage rate reductions and housing market growth appear to be very modest for the year ahead.
However, these moderate improvements are a welcomed change for buyers waiting for uncertain rates and home prices.
Mortgage rates have finally fallen for several consecutive weeks, the first consistent rate decline since September. Many experts predict that rates will slowly inch toward 6.5% this year but won’t fall below 6% any time soon.
JP Morgan recently released its forecast for the 2025 housing market, and the results may provide some relief for buyers and sellers.
A young family is seen in their new home. High mortgage rates and rising housing prices have created a challenging housing market, but 2025 may show some improvements.
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JP Morgan predicts modest housing market growth despite suppressed demand
Sticky mortgage rates, limited housing supply, and muted buyer demand from challenging market conditions have driven the persistent housing market gridlock. However, these factors feed into each other, so it will take mortgage rates noticeably dropping or housing inventory drastically increasing to spur market movement.
Read More/ Source The street