Housing Market Hotness Index Jan 19, 2025

Line chart image showing Housing Market Hotness Index Jan 19, 2025

The Housing Market Hotness Index continues to find new lows and declined to 90.04 for the week ending January 19, 2025. Contributing to this decline is a combination of factors. The 30-year mortgage rate hovered around 7% in January 2025. Lack of home affordability has been one of the key characteristics of the housing market in the last two years and this was reflected in existing home sales slumping to their lowest level in 30 years. While sales have slumped, home prices remain high because of low inventory – the months’ supply of homes in December 2024 across the U.S. was 3.3 months.

The top five counties with the highest market “hotness” were Monroe County (NY), Santa Clara County (CA), Suffolk County (NY), Snohomish County (WA), and Erie County (NY). Conversely, all five of the markets with the lowest rankings were in Florida, underscoring the challenges facing this region amid affordability concerns that are exacerbated due to surging insurance costs.

*Index values are subject to revision as deemed necessary, contingent upon the receipt of new or updated data.

Share This Article via...
Scroll to Top