Table of Contents
- Support Local Businesses and Your Real Estate Services
- Trends We’re Seeing
- Median Regional Home Prices
- National Average Mortgage Interest Rates
- AgentUp Virtual Staging AI App
As the Holidays approach, we’ll take a look at a December 2024 real estate update and the new trends heading into the new year.
AgentUp Podcast
Listen to a summary of the December 2024 Real Estate Update on the AgentUp Podcast.
If you prefer to read rather than listen to the podcast, let’s start with the great idea of a hometown Holiday marketing campaign to support local businesses.
Support Local Businesses and Your Real Estate Services
Celebrate your local business communities this holiday while promoting your real estate services.
Highlight a few local businesses on your website, in your email, blog, and social media sites, and encourage readers to support local vendors.
At the same time, showcase your knowledge of the local market and your commitment to the community.
Through December, aim for a few weekly emails and posts encouraging readers to shop and support local stores and establishments. Include the following local businesses:
- Restaurants and coffee shops
- Boutiques and small specialty shops
- Dry cleaning, home improvement, landscaping businesses
- And giving back by donating to local charities and food banks
Use eye-catching visuals, captivating captions, and relevant hashtags to increase engagement. Don’t forget to let AgentUp edit your photos!
When possible, link to the businesses in your posts and on your website.
Make sure to end each post and email with a solid call to action encouraging followers to support local businesses and to contact you for their real estate needs.
So spread joy and cheer this season while effectively promoting local businesses, strengthening your brand, and generating valuable leads.
Happy holidays!
Trends We’re Seeing
Real Estate Trends Heading Into the New Year
Here are a few significant real estate trends as we wrap up 2024 and head into 2025:
- Home Inventory — The inventory of unsold existing homes has slightly increased, rising by 0.7% in October. The gradual, slight upward trend in inventory continues, but there remains a persistent housing shortage in relation to demand.
- Home Pricing — As the year closes, home prices are expected to increase by an average of 4% to 4.5% in 2024. The economic forecast is for price increases averaging around 2.5% in 2025.
- Mortgage Rate—Despite the recent Fed rate cut, mortgage rates have slightly increased. Depending on economic conditions, projections indicate a gradual decline over the next 6–9 months.
– Source, Homes for Heros, November 2024
Median Regional Home Prices
As of November 30, 2024 (Zillow)
| City | Median Home Price | Increase / Decrease |
| New York | $766,100 | Up 2.9% from the previous year |
| Chicago | $298,300 | Up 2.6% from the previous year |
| San Diego | $1,003,600 | Up 5.7% from the previous year |
| Seattle | $849,900 | Up 3.1% from the previous year |
| Austin | $515,300 | Down 4.4% from the previous year |
| Denver | $545,200 | Down 1.4% from the previous year |
| Atlanta | $390,800 | Down 0.9% from the previous year |
National Average Mortgage Interest Rates
As of November 30, 2024 (BankRate)
| Mortgage | Current Rate | Last Month |
| 30-year Fixed | 6.96% | 6.95% |
| 20-year Fixed | 6.75% | 6.77% |
| 15-year Fixed | 6.18% | 6.24% |
| 30-year Jumbo | 7.01% | 6.96% |
AgentUp Virtual Staging AI App
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We hope this newsletter gave you some insights into what’s going on in the real estate market for December. Before you go, you may also want to check out the following related resources:
