The U.S. housing market is entering 2025 with renewed activity after a subdued 2023 and signs of recovery in 2024. Home prices have risen 6.3% year-over-year, despite high mortgage rates, while home sales increased by 10.8% in December 2024 compared to the previous year. The Northeast and California are experiencing the hottest markets, with Connecticut leading in composite scores. In contrast, Southern and Mountain West markets have cooled significantly. Affordability remains a challenge, particularly for first-time buyers.
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