Annual home price growth reached +3.4% in December, the lowest since 2011. The number of homes for sale increased by 22% in 2024, with a quarter of markets, mainly in southern states, returning to pre-pandemic levels. Climate events, particularly California wildfires, are impacting homeowners, with mortgage delinquencies rising, especially among FHA and VA loans. While overall delinquencies remain below pre-pandemic levels, the performance of these loans may indicate future trends. Inventory improvements are noted, particularly in the South and Southeast.
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