HGTV’s Tarek El Moussa predicts changes in the US housing market.
HGTV ‘Flipping 101’ Host Tarek El Moussa joins “Fox & Friends” to discuss the slight decline in mortgage rates and explain how this will affect the real estate market.
The U.S. housing market may be changing, and some real estate experts believe 2025 will provide new opportunities for buyers.
“I think there’s a great opportunity for buyers in the next 12-18 months,” he said while HGTV’s “101” host Tarek El Moussa is on the way.”Fox and friends,” Tuesday.
“I can’t see a crash coming.”
According to National Association of Realtors (NAR), 2024 was the lowest level of existing home sales since 1995. However, housing inventory rose 5.1% compared to the previous month, at 17% year-on-year. Mortgage fees are still high, but have fallen slightly on average at 30 years of fixed interest rates. 6.65% in late March.
Elmusa admitted that the market has not yet returned to normal while stocks were growing.
“They say it’s thawed, but if you look historical, we still have less stock than the regular market,” he said. “The reason is… because of the majority of people who have mortgages today, the rates are so low that they can’t afford to travel, so they don’t qualify for moving.
When asked about the impact of the new Trump administration, El Musa dismissed the idea that political leadership is driving change.
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“I don’t think it’s the administration’s fault,” he said.
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“I think it’s based on the fact that they’re there (Federal Reserve System) They are trying to prevent a recession, but they are already inflated, so they are trying to do (prevent the price from moving forward). So I think what we’re trying to see is like switching interest rates up and down, like we’ve done in the past few years. ”
Although home sales are usually slower in winter and recovers in spring and summer, Elmusa predicts long-term changes in homeownership trends.
“We’re seeing a big change in our future, and that change is that people will be in their homes for a long time.”
“I think you’ll see people remodel their homes and add them to their homes,” he said.
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He also said the government is increasingly turning its eyes to investors to increase housing availability.
U.S. Housing and Urban Development Agency (HUD) Secretary Scott Turner The Trump administration shares its attempts to use federal land to increase the supply of affordable housing and reduce market shortages. Turner is working to partner with an interior secretary in the US to identify which land is available.