Young homeowners are the most likely to regret their home purchases: 94% of Gen Z and 86% of Millennial sellers acknowledged buying mistakes, compared to 48% of baby boomers.

Traditional charm, modern simplicity and an intentional combination of the two are on-trend for 2025 based on the big winners of the just-released 2024 Best in American Living Awards.

Nationally, home sales were down 2.6% year over year and up 8.4% month over month, RE/MAX said. 

The median existing-home price was also on the upswing last month, providing homeowners a bit of refuge as the stock market undergoes a correction, Chief Economist Lawrence Yun said in the monthly report. 

The pace of new-home construction was higher than economists expected, even as homebuilders expressed concern about the impact of tariffs and supply-side challenges. 

If you have a would-be seller close to getting ready to put their home on the market, now’s the time to prepare. 

Falling consumer sentiment suggests potential homebuyers are wary of the short-term economic outlook and future inflation, CoreLogic Chief Economist Selma Hepp said. 

Furthermore, 13% of homeowners said they’d take their home off the market if they learned their ex was considering buying it.

The higher down payment amount compared to last year is due to higher home prices, resulting in larger deposits for buyers.

At the same time, the median sales price for a new home hit its highest level since 2022, according to the U.S. Census Bureau and the U.S. Department of Housing and Urban Development.   

In Chicago, home prices rose 6.6% year over year and 0.19% month over month in December. The annual increase was the second highest in the U.S. after New York. 

At the same time, builder sales expectations for the next six months posted their second-largest drop since the sentiment index started in 1985. 

Chicago is No. 4 among U.S. metro areas with 3,606 units in its office-to-apartments pipeline.

After Chicago, Miami, Las Vegas and Washington, D.C., posted the greatest year-over-year gains. 

The median existing-home price for all housing types in December rose 6% from its year-ago level.    

For the first time in two years, home prices are on the rise in every major metro and Chicago is one of them, according to a new Redfin report.