MORE THAN HALF OF ALL AMERICANS
ANXIOUS ABOUT MARKET CONDITIONS

via themortgagepoint.com—According to a new IPX 1031 survey, an estimated 67% of Americans are worried about the real estate market in 2025. Homebuyers have numerous obstacles they face in the U.S. housing market, such as the need to carefully negotiate high borrowing rates and agent commissions.

IPX 1031 conducted a poll of thousands of Americans to find out how they intend to handle these hurdles—diving into their homeownership goals, budgets, and fears for 2025.

Despite the fact that many Americans hope to own a home by 2025, 49% believe that this goal is unattainable. Actually, one in three Americans no longer believe that owning a home is the American Dream.

In 2025, over half (47%) will not be able to afford to purchase a home. 18% of Gen Zers, 51% of millennials, 24% of Gen Zers, and 7% of baby boomers are unable to purchase.

Millions of Americans aspire to own a home, but 12% think it’s a poor investment, and 65% are worried about the real estate market in 2025. Since taxes, interest rates, and prices are increasing more quickly than personal income, their worries are mostly related to affordability.

The three main issues are as follows:

Rising home prices (34%)

Interest rates (22%)

Tax rates (7%)

Homeowners deal with a unique mix of real estate issues, and many of them feel ensnared by interest rates. Some 35% of homeowners, according to the survey, wish to sell in 2025 but do not want to lose their existing rate. Additionally, because of mortgage rates, 34% of people now view their current residence as their “forever home.”

Americans Still Shopping Despite Economic Uncertainty

Sixty-one percent of Gen Z, 52% of millennials, 46% of Gen X, and 43% of baby boomers intend to own a home in 2025. Some 38% of respondents intend to purchase…READ MORE

The Current Miami Springs Market

DEMAND IS STILL THERE DESPITE HIGHER INTEREST RATES

Inventory increased again! There are thirty (30) active listings in the Miami Springs/Virginia Gardens market this week. Approximately 30% of the active listings are over $1,000,000! Inventory hovered at approximately 30+/- listings the last quarter of 2024 and has been comparable in early 2025, despite week-to-week fluctuations.

Increased inventory is good for buyers, but sold prices remain strong for sellers. Regardless, there are still serious qualified buyers looking for the right property and multiple offers still happen in some cases. We are seeing fewer price decreases on active listings. We are truly in a unique market where timing is everything!

We had been transitioning to a more neutral market. However, the tight inventory and high demand for entry-level homes makes it difficult for some buyers. High interest rates also create a difficult situation for sellers that have a mortgage with a low interest rate. Where do they go if they decide to sell? Sales activity has slowed down a bit. Properties are staying on the market for longer but some houses still quickly sell. Any additional interest rate increases in the future can mean fewer Buyers. Interest rates aside, we continue to anticipate more inventory increases.

Mortgage interest rates are just under 7%. Rates are expected to fluctuate between 6-7% this year. Despite high interest rates, there is still demand! The number of days properties are staying on the market is averaging 57 days. Seven (7) of the active listings had a price reduction—two (2) this week. There are no new pending sales this week. The limited options for entry level homes, high interest rates and homeowner insurance costs make it difficult for many first-time buyers. There are no properties listed under $500,000. There are no listings priced between $500,000-$600,000; five (5) listings are priced between $600,000-$700,000; five (5) are priced between $700,000-$800,000; eight (8) are priced between $800,000-$900,000; three (3) are priced between $900,000-$1,000,000; eight (8) between $1-2 million; and one (1) priced for over $2 million.

TIME TO BUY OR SELL?
CALL US FOR AN EVALUATION

During the period of February 14, 2025 through February 21, 2025, there were reported 3 new listings, 0 closed sales, 0 pending sales, 0 active with contract, 0 expired listings, 1 cancelled listing, 0 temp off market, 2 price reductions, and 0 price increases.

HOW DOES YOUR HOUSE COMPARE?

The table below shows the current status of the Miami Springs/VG real estate market as of February 21, 2025. All closed sales are within the last 90 days.

*Disclaimer: The data relating to real estate displayed on this website and the chart above comes from the Miami Board of Realtors MLS. All listing information is deemed reliable but not guaranteed and can be independently verified.

 A complete list of all the properties for sale in Miami Springs or any other area of 

Miami-Dade County can be sent to you on regular basis. 

Request it at:  [email protected]

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