Century 21 CEO optimistic over 2025 real estate market, spotlights key datapoint that buyers ‘don’t realize’

As consumers patiently wait for mortgage rates to settle, the CEO of Century 21 Real Estate tells consumers about “positive signs” emerging from the real estate market.

“On it apartment front, I think there are some good, positive signs that are building momentum,” Mike Midler began.

“This decade of price appreciation, which we’ve certainly seen in double-digit price appreciation for the last four years, is starting to settle down a little bit. I think we’ll end the year anywhere from flat to 2% or 3% annually.” is growing,” explained the executive director.

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A Century 21 Real Estate LLC “For Sale” sign hangs in front of a property in the Park Slope neighborhood of Brooklyn, New York, on Tuesday, September 17, 2013. Photographer: Craig Varga/Bloomberg via Getty Images. (Getty Images/Getty Images)

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Miedler went on to release some additional “good news” about the real estate market and its impact on investors’ economic outlook.

“Mortgage rates, although they have come down a bit, are creating more demand,” he said on Tuesday.

The figure above shows the weekly average of the US 30-year fixed mortgage rate as of December 5, 2024, according to Freddie Mac. (Fox News / Fox News)

Freddie Mac’s latest primary mortgage market survey, released Thursday, showed that the average interest rate on the benchmark 30 year fixed mortgage fell to 6.69%, the lowest since October, from 6.81% last week.The average 30-year loan rate was 7.03% a year ago.

“We’re up about 3% week-over-week. And wow, that’s four weeks in a row. And believe it or not, you know where we were last year, but that’s about a 50% increase since November of 2016,” claims the executive director of Century 21.

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As the affordability crisis continues to drag on, the uptick in buy-to-let bids could indicate that some demand is finally easing.

Century 21’s CEO also broke down the impact that Federal Reserve interest rates have been cut had in the housing market.

“We saw the Fed start making cuts in September. That translated into increases and increases across the country. [for the] for the first time in October for the year, an increase in points since 2021,” he said.

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Midler concluded by identifying what he believed to be the “biggest problem” with rates.

“I think we’re seeing some positive signs,” he said. “Affordability is still the biggest issue, and that’s obviously the main rate driver.”

FOX Business’ Breck Dumas contributed to this report.