What will the real estate market be like in 2025?

While many buyers were waiting for the interest rate to come down over the course of 2024, most have now accepted rates in the 7’s as the new normal. As such, the pent up demand from buyers will continue into 2025.
We are expecting a strong appetite for modern luxury homes - many in the form of condos and townhomes. Not necessarily larger homes, but more high end finishes. Here in Naperville we are seeing the last available land going this direction.
We are expecting more inventory in 2025. Sellers who have previously refused to give up their low interest rates will now be more willing to part with this as life circumstances cause them to now be able to wait any longer.
We will see prices to continue to grow at the rate they did in 2024 as the high demand from buyers continues. Even though more sellers are predicted to enter the market, the demand will be there which will continue to drive prices. OREEOTRWWZVCWGA9