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Rates & Financing

> Mortgage Rates as of 12/4/2024

Property Management

> Implementing Smart Home Technology

Incorporating smart home technology into your rental properties can be a game-changer for both convenience and security. Simple upgrades like smart thermostats, keyless entry systems, or security cameras can enhance the tenant experience and reduce energy costs. Plus, tenants are often willing to pay a premium for these modern conveniences. These upgrades can also help you keep better control of your property, allowing you to monitor energy usage, ensure security, and even manage maintenance remotely. It’s an investment that not only attracts high-quality tenants but can also increase your property’s value over time.

Headlines & Insights

Featured Story

> 10 Housing Market Predictions for 2025: rising Prices, Flat Rents and Shifting Housing Trends (Redfin Report)

Redfin forecasts more home sales in 2025, driven by pent-up demand, but predicts that affordability challenges will keep many Americans renting while shaping broader housing market dynamics.

Main takeaways:

1. Home prices will climb: Median home-sale prices are expected to rise by 4% due to limited inventory, keeping homeownership out of reach for many.

2. Mortgage rates to remain high: Rates will hover around 6.8%, with potential increases if inflationary policies like tax cuts and tariffs are implemented under the new administration.

3. Increased home sales: Sales are predicted to grow by 2–9% year-over-year, spurred by strong demand despite high costs.

4. A renter’s market emerges: Rental prices are expected to remain flat, with new supply from the apartment-building boom leading landlords to offer concessions as wages rise.

5. Boost in homebuilding: Builders will construct more single-family and multifamily homes as regulatory burdens ease, though labor shortages may limit growth.

6. Decline in real estate commissions: New National Association of Realtors rules will lower commissions, particularly in luxury markets, as competition intensifies.

7. Industry consolidation: The real estate sector is poised for mergers and acquisitions as companies look to streamline operations and expand services.

8. Climate risks impact prices: Coastal Florida and other high-risk areas will see slower price growth or declines as insurance and disaster costs deter buyers.

9. Urban revival efforts: Blue-state cities are enacting policies to curb crime, address homelessness, and attract residents back to urban centers.

10. Gen Z reshapes homeownership: Many younger Americans will delay or forgo homeownership, favoring renting or alternative wealth-building strategies.

These trends highlight a complex year ahead for the housing market, marked by affordability pressures and evolving buyer behaviors.

More News and Reports

Murray Short-Term Rental Policy Update: Murray City Council has updated its policy to allow "hosted sharing" short-term rentals starting January, where homeowners must be present during the stay. This decision aims to meet Airbnb demand without exacerbating the housing shortage, while traditional whole-home rentals remain prohibited.

Washington County Housing Crunch: Washington County is addressing its housing shortage amidst a surge in short-term rentals that inflate property costs. Officials are exploring zoning changes for more housing density and incentives for accessory dwellings to boost affordable housing options.

Treasury Yields Dip Ahead of Jobs Report: The 10-year Treasury yield decreased to 4.195% following data indicating a potential economic slowdown, while the market awaits the upcoming jobs report that could influence the Fed's rate decision.

Apartment Supply Peaking in Salt Lake City: As national apartment supply discussions continue, the focus on local markets reveals significant variances. Notably, Salt Lake City experienced a peak construction phase where new builds constituted over 10% of its existing inventory.

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