Market Update

Blue Matter | Daniel McCullum February 25, 2025

Home sales decreased 4.9% in January, but increased YoY

Existing-home sales fell 4.9% in January from December.
Sales rose 2.0% from January 2024, marking four consecutive months of year-over-year gains.
Median home price increased 4.8% YoY to $396,900.

Inflation accelerated in January

The CPI rose 0.5% in January, up from 0.4% in December.
Core CPI increased by 0.4%, the highest monthly gain since March 2024.
Energy prices rose 1.1%, with gasoline up 1.8% and natural gas up 1.8%.

The 30-year rate is under 6.5%

The 30-year fixed mortgage rate has decreased to 6.49%, the first time it’s fallen below 6.5% in over two months.
The 15-year fixed mortgage rate is currently at 5.75%.
Adjustable-rate mortgages (ARMs) have also seen a slight decline, with the 5/1 ARM averaging 5.60%.

About the Author - Ben Bryk

Lead Real Estate Agent

Buying a home is a very emotional experience, especially for those who have not done it very often. My experience in sales can help guide buyers with an analytical approach.

I am a top Vero Beach real estate agent, specializing in neighborhoods like Grand Harbor, Vero Lake Estates, Citrus Springs, Fort Pierce, North Hutchinson Island, John’s Island, and the surrounding areas.

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