In the Cincinnati housing market, home prices are expected to see slower growth, and mortgage rates may decrease slightly in 2025. The market is likely to shift towards a more buyer-friendly position as inventory increases and mortgage rates decline, according to Zillow.
Key Predictions and Trends:
Home Price Growth:
While prices are still trending upward, they are expected to rise at a slower rate compared to previous years, according to Zillow.
Mortgage Rates:
Mortgage rates are anticipated to decrease slightly, potentially improving affordability for buyers.
Market Shift:
The Cincinnati market is predicted to move towards a more balanced position, with buyers having more options and potentially lower prices.
Increased Inventory:
Inventory levels are expected to improve, providing buyers with more choices.
Rent Growth:
While home prices are expected to slow down, rental rates are predicted to continue rising, with a potential increase of 3.7% by the end of 2025, according to MMG Real Estate Advisors.
Competition:
The market is still considered competitive, with properties potentially selling for above list price and going pending relatively quickly.
In Summary, If you are an investor I am seeing a lot more properties coming on the market that look like good opportunities with cash flow. I have not seen this in several years. Further more if you have been wanting to buy but the market has been too difficult to navigate this might be a great time to get serious. If rates are going to go down further this year then there will be many more buyers in the market to compete against. Why not be ready now and beat the competition. Sellers, we still need inventory and what is hitting the market is selling fast. If you are interested in disucssing any of this in more detail let me know. I would love to talk.
Gillian Barnes
Bloom Group
513-317-6986
gillian@bloomgroup.net