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Housing Market Trends

Stay on top of real estate trends so you can make confident decisions when buying or selling your home.

Total Homes for Sale

953,814

*Last update: November 7, 2024. Next scheduled update: December 10, 2024. Sources: Realtor.com®, 2024; Freddie Mac, 2024.

Total Homes for Sale

953,814

+29% year over year (October 2023)

We’ve got more homes for sale this year than last—eight months in a row of inventory going up! More listings mean more options, which could help balance out the market and even bring down prices in some areas.

Avg. 15-Year Fixed Mortgage Rate

5.60%

+0.35 month over month (September 2024)

The average 15-year fixed rate went up this month compared to September. That’s six weeks in a row—the highest we’ve seen since early August of this year.

Median Home Price

$424,950

+0% month over month (September 2024)

Home price growth is slowing down because more properties are for sale, and some buyers are sitting on the sidelines.

Median Days on Market

58

+8 days year over year (October 2023)

Properties are taking longer to sell than they did at this time last year because higher home costs have buyers on the fence.

What Does This Mean for You?

Buyers

You can still find a home you love within your budget—and winter might be a good time. With fewer buyers house hunting during the holiday season, there’s less competition, which could lead to better deals. To help make your offer stand out and negotiate contingencies, get a real estate expert on your side.

Sellers

Winter’s coming, but it can still be a great time to sell. With fewer sellers in the market, buyers have fewer homes to choose from, which means you could sell your house faster. Partner with a real estate pro to help you set a competitive price, prepare your home, and list it to attract the right buyer.

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How Do Fed Interest Rate Cuts Impact Mortgage Rates?

The Federal Reserve (also known as the Fed) is the U.S. central bank that creates money and sets interest rates. Now, the Fed doesn’t tell commercial banks what interest rates to charge on loans, but it does influence the banks’ rates by setting a target for the federal funds rate. 
 
Even though the Fed doesn’t actually set mortgage interest rates, its decisions can still affect your mortgage. In our article about the Federal Reserve, get the full breakdown—and the answer to your big question: Should I buy a house now or wait?

Federal Reserve building

Crunch Your Home Buying and Selling Numbers

Mortgage Information

Home Value
$
Down Payment
Amount
$
or
Percentage
%
Type of Mortgage

We only recommend 15-year fixed-rate mortgages. You’ll save thousands in interest and get out of debt faster.

Interest Rate
%

Total:

$1,802

  • Principal and Interest
    $1,394
  • Property Taxes
    $183
  • Home Insurance
    $125
  • HOA Dues
    $100
  • Total Monthly Payment
    $1,802
  • $

    Based on your current salary and lifestyle in Vero Beach-Indian River, your Conway salary would need to be:

    $44,368which is15%
    Cost of Living Breakdown
    These categories are auto-filled based on an average of what people spend. Type in your own numbers for a more accurate comparison.
    Cost
    Increase/Decrease
    Vero Beach-Indian RiverConway
    $

    $1,048

    Average Costs

    Vero Beach-Indian River Conway
    Apartment Rent (2BR)$1,622$907
    Home Price (3BR, 2BA)$461,241$429,333
    Vero Beach-Indian RiverConway
    $

    $274

    Average Costs

    Vero Beach-Indian River Conway
    Total Energy$261.59$144.14
    Vero Beach-Indian RiverConway
    $

    $524

    Average Costs

    Vero Beach-Indian River Conway
    Half Gallon Milk$4.64$4.53
    Ground Beef$6.92$6.92
    Dozen Eggs$3.95$3.41
    Vero Beach-Indian RiverConway
    $

    $338

    Average Costs

    Vero Beach-Indian River Conway
    Gas$3.29$2.85
    Tire Balance$66.74$53.5
    Vero Beach-Indian RiverConway
    $

    $145

    Average Costs

    Vero Beach-Indian River Conway
    Doctor$153.85$109.5
    Dentist$118$83.75
    Optometrist$168.24$99.33
    Vero Beach-Indian RiverConway
    $

    $1,370

    Average Costs

    Vero Beach-Indian River Conway
    Haircut$18.44$22.32
    Movie$9.2$10.88
    Yoga$17.53$15.33

    Learn More to Reach Your Home Goals

    Housing Market Predictions for 2023
    Home Buying

    Housing Market Predictions for 2024

    Rachel Cruze Rachel Cruze

    If you’re unsure, take your best guess.

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