2024 Recap And Predictions For 2025

Summary

In this episode, Doug Varenas reflects on the real estate market of 2024, discussing its challenges and uncertainties, while also sharing his predictions for 2025. He highlights the slow market conditions, the impact of interest rates, and the potential for a more balanced market in the coming year. Doug also emphasizes the resurgence of Portland and the growing demand for smaller homes and multi-generational living arrangements.

Takeaways

2024 was marked by uncertainty in the real estate market.

Interest rates remained high, impacting buyer behavior.

Portland is showing signs of recovery and livability.

Small houses and multi-generational homes are trending.

Home prices are expected to increase by 3-5% in 2025.

The market is shifting towards a more balanced environment.

Buyers are adjusting to the new rate landscape.

Concessions from sellers are becoming more common.

The population in Vancouver is growing steadily.

Estate planning is evolving to support younger generations.

Chapters

00:00 2024 Real Estate Market Recap

04:46 Predictions for 2025

08:35 Portland's Comeback

11:56 Trends in Housing Demand

13:40 Market Balance and Future Outlook