Home Prices Continue to Cool 
Last July, rises in home prices finally began to slow down, which buyers considered a welcome change. This trend continued into fall 2024.
According to the S&P CoreLogic Case-Shiller Home Price Index, home price growth continued to wane in October, growing at a rate of 3.60% year-over-year. This was the seventh consecutive drop in the annual growth rate since these numbers hit 6.54% in March 2024.
Major metro areas racked up their own price data, including 11 that outpaced the national rate of 3.60%. New York took first place at 7.31%, followed by Chicago at 6.27% and Las Vegas at 5.93%. Metros with the smallest home price growth numbers recorded over the year included Tampa at 0.41%, followed by Denver at 0.47% and Dallas at 0.91%.1
Doing Less Could Fuel Success
As a new year begins, many of us are busy making resolutions and searching for more ways to increase our sales. However, this may not be the ideal strategy.
The temptation to create a list of New Year's resolutions is often fueled by our belief that the most successful agents work the hardest. In addition, our culture glorifies "the grind," judging us by what we sacrificed to succeed.
Instead, consider taking a kinder, gentler approach to your sales strategies. Trading resolutions for self-care work helps you identify what's truly meaningful to you.
Postpone resolutions and start by creating a "let go" list instead. Identify habits and commitments that aren't serving you. If you're saying "yes" too often, learn how to say "no". Letting go clears space for you to focus your energy on what truly matters.
Identify goals that align with your values. Instead of setting a difficult sales goal, you'll be less stressed with a goal that incorporates emotional depth, such as reconnecting with your past clients.
Changing your approach frees you to create your own path, making progress toward a life that's both authentic and fulfilling.2
Last Year's Relocations Created More Mountaineers
American homeowners are still on the move, looking for more affordable places to live, even though the remote work option continues to disappear. Here are 2024's most popular destinations:
- West Virginia
- Delaware
- South Carolina
- District of Columbia
- North Carolina
The top outbound states for 2024 were led by New Jersey, as many of its retiring residents headed to Florida and other warmer states.
- New Jersey
- Illinois
- New York
- California
- Massachusetts
Spring Housing Demand Arrives Early Again
The weekly data for pending home purchase contracts continues to show year-over-year growth, even within the current rate environment. Some data experts consider that the spring 2025 housing demand has actually already begun, based on November 2024 data. December 2024 saw numbers slide for several reasons, including several major holidays (Christmas, Hanukkah, New Year's Day) arriving mid-week.
In late 2022 and 2023 when rates fell, the market saw a boost in demand of roughly 500,000. Now, pending home sales have been up four months in a row as demand slowly improved during the last quarter of 2024.
Here are the most recent weekly pending contract numbers:
- 2025: 260,329
- 2024: 247,652
- 2023: 231,127
Good News, Bad News for Housing Inventory
Active listings in November were 12.1% higher than they were in November 2023, hitting the highest level since 2020. However, over 50% of them had been sitting on the market for at least 60 days without seeing a sales contract. Average home contracts took a leisurely 43 days to be written, which was the slowest November pace since 2019.
However, homes for sale that are move-in ready and priced well still go quickly, even with rising mortgage rates. Overpriced homes and fixer-uppers are the ones waiting longer for offers.5
Sources: 1eyeonhousing.org, 2cnbc.com, 3unitedvanlines.com, 4housingwire.com, 5cnbc.com
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