What’s Up with Real Estate? National news and local views for the week ending Friday, March 14, 2025
National Real Estate News
More inflation progress
Both “headline” and “core” (ex-food & fuel) CPI rose by only 0.2% month-over-month in February 2025. As a result, annual “headline” inflation dropped from +3.0% YoY in January → +2.8% YoY in February. Similarly, annual “core” inflation eased from +3.3% YoY in January → +3.1% YoY in February. [Source: Bureau of Labor Statistics]
Unemployment rate rose
The all-important Bureau of Labor Statistics' employment report for February 2025 showed that the US added 151,000 jobs, slightly below expectations. But the unemployment rate rose from 4.0% in January to 4.1% in February, and a lot of the jobs growth came from part-time, rather than full-time, hires. [Source: BLS]
Fed meeting next week
After nearly two months of falling US treasury bond yields (and mortgage rates) we had a bit of a reversal this week. On March 19, the Federal Reserve is expected to keep its Federal Funds Rate steady (range of 4.25% - 4.50%). This despite solid progress getting CPI lower and some weakness under the surface of the BLS jobs report. [Source: Mortgage News Daily]
Local Market Trends
As of Friday, March 14, 2025
| Area | Median Price | Active Listings | New Listings - 5 days | Median Days on Market |
|---|---|---|---|---|
| Mesa, AZ |
$490,000
0%
|
1536
0.2%
|
136 |
42
-0.1%
|
| Chandler, AZ |
$579,000
0%
|
609
-0.1%
|
64 |
37
-0.1%
|
| Gilbert, AZ |
$655,000
0%
|
737
0.2%
|
85 |
32
-0.3%
|
| Queen Creek, AZ |
$682,990
0%
|
667
1.2%
|
52 |
51
0%
|
/) from Feb. to Mar. 2025..jpg)
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