Find or sell your home today!

(734) 822-7496
Search Home Listings

Piper Partners Real Estate Blog

The Piper Partners real estate team writes about everything relating to buying or selling a home, investing in real estate and neighborhoods in Ann Arbor MI and the surrounding Washtenaw County area. You’ll find articles about home ownership, the costs of owning a home, home maintenance and improvements, home design, and home technology.

You can also find out about the Piper Partners Team, what we are up to, and career opportunities with us. We are deeply connected in our community and like to write about lifestyle and living in Ann Arbor as well! You can find our take on activities and events, local businesses and services, vacation ideas and more. If you like our posts, subscribe to our newsletter.

Latest Posts

Fannie Mae 2025 Housing Market Outlook: Key Trends in Home Prices, Mortgage Rates, and Sales

As we transition into 2025, the housing market continues to grapple with challenges that have persisted throughout 2024. Fannie Mae's Economic and Strategic Research (ESR) Group provides insights into the anticipated trends for the coming year, highlighting factors expected to shape the real estate landscape. This article provides highlights from the Fannie Mae 2025 Housing Outlook with a look at key trends in home prices, mortgage rates and sales. Read the complete report: Fanie Mae's 5 Housing Market Predictions for 2025 for more details; loaded with economic, housing and mortgage information. 8 Steps to buying a home in Michigan in 2025 Download the Piperpartners Real Estate Team 2025 Home Byer's Guide 1. Mortgage Rates: Modest Decline with Continued Volatility The ESR Group forecasts that average mortgage rates will remain above 6% in 2025. Persistent inflation and a stabilizing job market have tempered expectations for significant interest rate reductions. Unless there is a marked slowdown in economic growth, mortgage rates are projected to decrease slightly, approaching 6% by the end of 2025. However, factors such as economic resilience, inflation persistence, and potential policy changes may contribute to fluctuations in mortgage rates throughout the year. 2. Existing Home Sales: Modest Improvement Yet Historically Low Existing home sales are expected to total 4.25 million in 2025, reflecting a 4.8% increase from the estimated 4.06 million in 2024. Despite this improvement, sales remain approximately 20.3% lower than in 2019. The limited recovery is attributed to ongoing affordability challenges and the "lock-in effect," where homeowners with low mortgage rates are disinclined to sell and re-enter the market at higher current rates. 3. New Home Sales: Regional Variations Influence Growth The new home market is anticipated to be a bright spot, particularly in regions conducive to construction, such as the Sun Belt and Mountain West. Of the approximately 750,000 single-family housing permits issued year-to-date through October 2024, 20% were concentrated in metropolitan areas like Houston, Dallas, Phoenix, Atlanta, and Charlotte. This trend is expected to continue, with significant homebuilding activity in these regions throughout 2025. 4. Home Price Growth: Deceleration Expected National home price growth is projected to decelerate, with an estimated year-over-year increase of 3.6% in 2025, down from 5.8% in 2024, as measured by the Fannie Mae Home Price Index. While mortgage rates will continue to pose affordability challenges, the slowing of home price appreciation may allow nominal wage growth to surpass home price growth for the first time since 2011, gradually improving homebuyer affordability conditions. 5. Multifamily Housing: Stability Amidst Challenges The multifamily housing sector is expected to remain stable in 2025, mirroring trends from 2024. Long-term demographic factors support multifamily construction; however, below-average rent growth is anticipated in the near term due to the completion of additional units. Rent growth is projected to be between 2% and 2.5% in 2025, providing some relief to renters and contributing to a gradual improvement in affordability. In summary, while certain segments of the housing market may experience modest improvements in 2025, overarching challenges such as affordability constraints and limited inventory are likely to persist. Stakeholders should remain informed and adaptable as the market continues to evolve.

8 Steps to Buying a Home in Michigan in 2025

An Introduction To The Home Buying Pro...
Read More »

Ann Arbor Real Estate Market December 2024

The Ann Arbor real estate market is st...
Read More »

Festive Holiday Events in & Around Ann Arbor This Weekend

Fun & Festive Events in & Around Ann Arbor T...
Read More »