Lincoln Realtors predicts a shocked housing market for 2025

On January 30, 2025By Littum

Lincoln, Neb. (Koln) – Over the past few years, the housing market has been a hot topic. The interest rates that fell under Covid worked back, leaving some potential home buyers who felt it just isn’t in the cards.

“2022 When the market was fast, you know we were coming in, we could quickly sell a house,” said Carma Bryan, a real estate agent with Bancwise Realty. “The interest rate was really low. People had extra cash that everyone changed within the last few years. “

Bryan said these interest rates were about 3%, have since leveled at approx. 6%to 7%.

“When we look at where we came from a few years back, it’s a real adjustment to what your purchasing power can do for you,” Bryan said.

After almost a month into the new year, Lincoln Realors said they expect the housing market to remain stable without dramatic changes.

President-elected for the Nebraska Realtors Association and owner of KZ Realty, Kim Zweiner, said last year that the average price of the new and existing homes in Lincoln was about $ 343,000, an increase of 2.6% from the previous year.

“Really modest increase in values, which was a relief for buyers because the last few years had seen much bigger climbs in the past,” Zweiner said.

Both Bryan and Zweiner said they expect housing prices and interest rates to remain relatively similar in 2025. But even with the previously rising prices, Zweiner said big life changes played a big role in people buying home in 2024.

“Job changes and deaths and babies where people need to make changes,” Zweiner said. “People can’t wait any longer. So we will see the market continue to just march with. “

As regards who is buying home, Bryan said there have been differences. By 2024, she said that the median age for home buyers was 56 with a fall in first -time buyers.

“The first time home buyers actually fell 6% of the market,” Bryan said. “A lot has changed. Need to bring much more to the table and an understanding of what their value, what they can buy with their money. “

Regardless of the ever -changing market, Zweiner said the home buying experience has become a little less chaotic.

“It’s been fun to see it smooth, so it’s not such a madness that we saw three or four years ago,” Zweiner said.

As far as how long is home to the market, both Bryan and Zweiner said they can last between 10 and 20 days.

Click here To subscribe to our 10/11 now Daily Digest and Breaking News Alerts delivered directly to your E -Mail inbox.