Housing Market on the Move: Big Sales Surge and Higher Loan Limits12.1% Sales Jump + New Loan Limits—What It Means for You
Pending Home Sales Jump 12.1% Year-Over-Year
For the four weeks ending November 24th, U.S. pending home sales increased by 12.1% compared to last year, according to Redfin—the largest surge since May 2021. Despite challenges like rising mortgage rates, activity in the market continues to pick up.
Other key trends include:
📈 Mortgage Purchase Applications: Rose 12% from the previous week, showing stronger demand from buyers.
🚪 Home Tours: Down slightly to a two-month low but still 7% above last year’s levels.
🏠 New Listings: Increased 10.6% year-over-year, the biggest gain since April.
This uptick highlights renewed energy in the market, creating opportunities for both buyers and sellers as we head into the holidays. Check out my article last week about Rates, Prices and 2025 Market Trends.
2025 Loan Limits Increase for High-Cost Areas
The Federal Housing Finance Agency (FHFA) has raised conforming loan limits for 2025, offering buyers in high-cost areas increased flexibility to finance larger homes or multi-unit properties. These adjustments aim to make homeownership more accessible in pricier markets.
Here’s a breakdown of the new high-cost area loan limits:
🏠 1 Unit: Up to $1,209,750
🏢 2 Units: Up to $1,548,975
🏘️ 3 Units: Up to $1,872,225
🏨 4 Units: Up to $2,326,875
With these increases, buyers can take advantage of larger loans to purchase their dream homes or build their investment portfolios. Want my curated list of lenders to talk about getting preapproved? Hit me up here and I'll send you my list of preferred lenders.
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