As of December, the pool of existing, available homes was around 25% less than the average in 2018 and 2019 for that time of year; an improvement from the 37% deficit in January 2024 or the record low of 51% seen in February 2022. Zillow notes that this increase in inventory indicates there is softer home price growth ahead.
The average home value at the end of 2024 was $358,461, which — assuming the owner put 20% down — leaves the typical monthly mortgage payment at around $1,844. Of course, when choosing a home, buyers must also consider other associated costs, including taxes and insurance, which have both become a burden for many homeowners in recent years.
In September 2024, data from the Intercontinental Exchange showed that 32% of the average single-family mortgage payment went toward taxes and insurance. For about 9% of homeowners, taxes and insurance claim more than half of the mortgage payment.
In 2025, Bankrate reports the most expensive states for homeowners insurance are Nebraska, Florida and Oklahoma, while the least expensive states are Vermont, Alaska and Delaware.
With so much housing inventory available, and up against a more expensive insurance market, those selling their home must find ways to make it stand out amongst other houses while still getting the best price possible. In the slideshow above, we’ll look at seven simple ways homeowners can improve their home’s resale value, according to Consumer Reports.
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