According to the U.S. Department of Labor’s Bureau of Labor Statistics, total nonfarm payroll employment increased by 256k in December, 2024 with the unemployment rate coming in at 4.1%.  As always, the BLS says employment in government continued its upward growth trend in December (up 33K) with an average monthly gain of 37k in 2024.

A new report from Zillow reveals their top housing markets for 2025.  And, at the top of that list is Buffalo, NY.  Zillow says relative affordability and few homes for sale are common threads among what should be the most competitive markets for buyers this year.   Be sure to check out the complete list which includes the top 50 cities.

“Construction that keeps pace with an area’s growth remains a crucial piece of keeping homes available and accessible. In chilly Buffalo, competition among buyers will remain hot, with employment growing far faster than builders are adding homes…Shoppers nationwide should see more options for sale than in recent years, along with slow and steady price growth. That’s the good news. But both buyers and sellers should expect unpredictable mortgage rates.”  Said Skylar Olsen, Zillow chief economist.

The U.S. Bureau of Labor Statistics is reporting that the Consumer Price Index for All Urban Consumers (CPI-U) increased 0.4% in December, 2024.  The all items index was up 2.9% for the 12 months ending in December.  The index for shelter rose 0.3% in December, accounting for nearly forty percent of the monthly all items increase.

The U.S. government is reporting that privately‐owned housing starts in December, 2024 were at a seasonally adjusted annual rate of 1,499,000, which is 15.8% higher than November’s revised number and is 4.4% lower than one year ago.  December’s rate for units in buildings with five units or more was 418k.  Privately‐owned housing units authorized by building permits in December were at a seasonally adjusted annual rate of 1,493,000, which is 0.7% lower than November’s revised number and is 3.1% lower than one year ago.  Authorizations of units in buildings with five units or more were at a rate of 437k in December.

We have had several posts with the forecasts & prognostications for 2025’s housing market.  They’re always interesting and exciting to look at.  With that in mind, today’s graphic from Keeping Current Matters takes a look at several “expert” forecasts and puts them all in one place.  Their conculsion; mortgage rates will slightly come down, home prices will rise, and there will be more homes for sale.  Indeed…..Happy investing, stay safe and have a Happy Friday!!!

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Rentcafe says 2024 was a year of transformations that were driven by shifting job markets, lifestyle changes and emerging trends in urban development. With that in mind, they say 2025 is poised to be an exciting year for rentals.  Their new report highlights those urban areas they believe will be hotspots for new residents, thriving businesses and fresh opportunities.  Indeed…

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