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Bright MLS December 2024 Housing Report: Buyers Rush to Close on Home Purchases at the End of the Year

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However, a record low number of sellers listed their home in December

Across the Bright MLS service area, there were 17,593 closed sales in December. Sales were 14.4% higher than they were in December 2023. For the year, the region posted 2.5% more sales than the year prior.Inventory is still relatively tight across the Bright MLS service area. There were just 11,531 new listings coming onto the market in December, which was 2.1% lower than a year earlier, and is the slowest pace of listing activity in 20 years.Home prices continue to rise. The median sold price in December was $405,000, a 6.6% gain from the previous December.As we begin 2025, buyers still face a competitive housing market. Over the coming months, however, buyers will find more choices and slightly lower mortgage rates.

NORTH BETHESDA, Md., Jan. 10, 2025 /PRNewswire/ — Home sales activity surged across most of the Bright MLS service area in December. While transactions are still low by historic standards, the number of closed sales was much higher than in December 2023. Closed sales also increased by 4.2% from November. In December, the number of new pending contracts was also higher, with 2.1% more pending sales in December compared to 2023.

The uptick in buyer interest at the end of 2024 comes even as mortgage rates remained high. In November and December, rates on a 30-year fixed-rate mortgage averaged 6.75%. But at the end of 2024, rates were up to three-quarters of a percentage point lower than they were a year earlier.

“Buyers have re-anchored their expectations and have come to terms with the new normal for rates,” said Dr. Lisa Sturtevant, Bright MLS Chief Economist. “Over the past year, rates have been above 7%, and even close to 8%, so buyers now think a rate in the mid-6’s is pretty good.”

Sellers are still few and far between. December is typically a slow month for new listings, but 2024 was a record-breaker. There were just 11,531 new listings coming onto the market in December, which was 2.1% lower than a year earlier, and is the slowest pace of listing activity in 20 years.

At the end of 2024, there was a total of 30,823 active listings available for sale. While this is an 11.7% increase over 2023, inventory is still far below pre-pandemic levels. One factor is “rate lock”—that is, the fact that current homeowners have a much lower mortgage rate than they could get on a new loan. As a result, homeowners are staying put longer.

Some of the inventory logjam will be loosened in 2025. Changing family and financial circumstances will prompt more homeowners to sell their home, despite having to give up their super-low mortgage rate. In a recent nationwide survey of homeowners conducted by Bright MLS, the group most likely to sell in 2025 is younger homeowners in their 30s and 40s, and the most common reasons for selling are family or job changes.

In addition to more inventory in 2025, mortgage rates will also come down, though not by much. Current projections are for mortgage rates to remain well into the mid-6’s in the first part of the year. But because people have started adjusting to the new normal, even a slight decline may be all that is needed to draw buyers into the market in the first quarter of 2025.

December 2024 Mid-Atlantic Housing Market by Region

Philadelphia:
The Philadelphia metro area housing market ends the year with strong sales activity

There was a total of 5,110 sales in December, a 9.0% increase over the year prior. Overall, 2024 sales in the Philadelphia metro tracked 0.8% higher than 2023.The median sold price in the Philadelphia metro area was up 5.7% year-over-year in December. This is the slowest pace of home price appreciation since August 2023.There were just 3,485 new listings across the region in December. This is the fewest monthly new listings in more than 20 years.Prospective buyers in the Philadelphia area market have faced rising prices, elevated mortgage rates, and low inventory. In 2025, conditions should ease somewhat with more listings and slower price appreciation.

Baltimore:
A December surge pushes annual sales totals above 2023 in the Baltimore metro area

In December, there were 2,518 closed sales, a 12.3% increase over December 2023 sales. Overall, 2024 sales in the Baltimore region were 1.2% higher than 2023.The median sold price in December was $385,000, an 8.5% year-over-year gain and the biggest increase since March 2024.There were just 1,617 new listings in December, a 5.0% drop from a year prior, and the lowest level in more than 20 years.The Baltimore area housing market has been resilient in the face of elevated mortgage rates and low inventory. In 2025, inventory should increase, and mortgage rates will come down.

Washington, D.C.:
Washington D.C. area buyers rush to close on home purchases at the end of 2024

There was a total of 3,858 home sales in the Washington D.C. metro area in December, which is a 25.9% surge over December 2023 sales. In 2024, total home sales in the region tracked 2.0% higher than 2023.In December, the median sold price was $590,000, a 6.1% year-over-year gain. Prices of single-family detached homes continue to rise faster than either townhome or condo prices.In December, there were just 2,126 new listings, which is 4.1% lower than the prior December and is the lowest level of monthly new listings in more than 20 years.As we move into 2025, there is significant pent-up demand in the Washington D.C. metro area housing market, but there are also headwinds, including uncertainty around Federal government employment in the region, which will be important to watch in the month ahead.

The full Mid-Atlantic and market metro area reports are available at BrightMLS.com/MarketInsights.

About Bright MLS
Bright MLS was founded in 2016 as a collaboration between 43 visionary associations and two of the nation’s most prominent MLSs to transform what an MLS is and what it does, so real estate pros and the people they serve can thrive today and into our data-driven future through an open, clear, and competitive housing market for all. Bright is proud to be the source of truth for comprehensive real estate data in the Mid-Atlantic, with market intelligence currently covering six states (Delaware, Maryland, New Jersey, Pennsylvania, Virginia, West Virginia) and the District of Columbia. Bright MLS’s innovative tool library—both created and curated—provides services and award-winning support to well over 100K real estate professionals, enabling their delivery on the promise of home to over half a million homebuyers and sellers monthly. Learn more at BrightMLS.com.

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SOURCE Bright MLS

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Capital Advantage, Inc. Offers Tailored Financial Services for Kaiser Permanente® and TPMG Employees

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WALNUT CREEK, Calif., Jan. 10, 2025 /PRNewswire/ — Capital Advantage, Inc., a trusted name in wealth management, is proud to highlight its specialized services designed to meet the unique financial needs of Kaiser Permanente® and The Permanente Medical Group (TPMG) employees.

At Capital Advantage, we understand the complexities of Kaiser Permanente® and TPMG benefit plans. Our team is dedicated to helping healthcare professionals navigate their robust and often intricate benefit options. With over 30 years of expertise and a deep understanding of Kaiser’s offerings, we craft personalized financial plans to help maximize the value of our clients’ benefits.

“We recognize the unique challenges and opportunities that healthcare professionals face in managing their financial lives,” says Ian Castille, CFP®, Principal and Senior Financial Advisor at Capital Advantage, Inc.

Donna Zinman, CRPC®, Principal and Senior Advisor, adds, “Our goal is to educate our clients about their attractive benefit options and help them make the most of these opportunities.”

Key services for Kaiser Permanente® and TPMG employees include customized portfolio strategies and personalized guidance on retirement savings plans, identification of ideal pension options and annual open-enrollment benefit selections, advice on traditional vs. Roth 401(k) options, advanced tax-saving strategies (such as mega-backdoor Roth contributions), and simplification of retirement planning by working directly with Kaiser/TPMG’s benefits department. These services are designed to provide Kaiser/TPMG employees with peace of mind, confidence, and financial empowerment as they navigate their retirement and benefits planning.

About Capital Advantage, Inc.

Capital Advantage is a trusted, independently owned wealth management firm with over 40 years of experience helping individuals and families to achieve their financial goals. As a 100% fee-only fiduciary, Capital Advantage strives to provide financial peace of mind to each and every client, delivering large institution expertise with the personalized care and attention of a boutique firm. Our experienced advisors work closely with pre-retirees and retirees, women navigating unique financial journeys, and Kaiser Permanente® and The Permanente Medical Group (TPMG) employees to create strategies that provide clarity, confidence, and long-term success.

For more information on Capital Advantage’s services visit: Kaiser/TPMG Employees – Capital Advantage, Inc. or call (925) 299-1500 to contact one of our advisors for a no-cost initial consultation.

Disclaimer: Capital Advantage, Inc. is not affiliated, associated, authorized, endorsed by, or in any way officially connected with Kaiser Permanente® or TPMG (The Permanente Medical Group)

Limitations: No amount of experience, recognition, or past success, nor the achievement of any professional designation, certification, degree, or license should be construed by a client or prospective client as a guarantee that he/she will experience a certain level of results if Capital Advantage is engaged, or continues to be engaged, to provide investment advisory services. Please see Important Disclosure.

View original content to download multimedia:https://www.prnewswire.com/news-releases/capital-advantage-inc-offers-tailored-financial-services-for-kaiser-permanente-and-tpmg-employees-302348316.html

SOURCE Capital Advantage, Inc.

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NASA Sets Coverage for Firefly First Commercial Robotic Moon Launch

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WASHINGTON, Jan. 10, 2025 /PRNewswire/ — Carrying NASA science and technology to the Moon as part of the agency’s CLPS (Commercial Lunar Payload Services) initiative and Artemis campaign, Firefly Aerospace’s Blue Ghost Mission 1 is targeting launch Wednesday, Jan. 15. The mission will lift off on a SpaceX’s Falcon 9 rocket from Launch Complex 39A at the agency’s Kennedy Space Center in Florida.

Live launch coverage will air on NASA+ with prelaunch events starting Monday, Jan. 13. Learn how to watch NASA content through a variety of platforms, including social media. Follow all events at:

https://www.nasa.gov/live/

After the launch, Firefly’s Blue Ghost lander will spend approximately 45 days in transit to the Moon before landing on the lunar surface in early March. The lander will carry 10 NASA science investigations to further our understanding of the Moon’s environment and help prepare for future human missions to the lunar surface, as part of the agency’s Moon to Mars exploration approach. 

Science investigations on this flight aim to test and demonstrate lunar subsurface drilling technology, regolith sample collection capabilities, global navigation satellite system abilities, radiation tolerant computing, and lunar dust mitigation methods. The data captured could benefit humans on Earth by providing insights into how space weather and other cosmic forces impact Earth. 

The deadline has passed for media accreditation for in-person coverage of this launch. The agency’s media accreditation policy is available online. More information about media accreditation is available by emailing: ksc-media-accreditat@mail.nasa.gov.

Full coverage of this mission is as follows (all times Eastern):

Monday, Jan. 13
2:30 p.m. – Lunar science media teleconference with the following participants:

Chris Culbert, CLPS program manager, NASA’s Johnson Space CenterMaria Banks, CLPS project scientist, NASA Johnson

Audio of the teleconference will stream live on the agency’s website:

https://www.nasa.gov/live/

Media may ask questions via phone only. For the dial-in number and passcode, please contact the Kennedy newsroom no later than 1:30 p.m. EST Jan. 13, at: ksc-newsroom@mail.nasa.gov.

Tuesday, Jan. 14
1 p.m. – Lunar delivery readiness media teleconference with the following participants:

Nicola Fox, associate administrator, Science Mission Directorate at NASA HeadquartersJason Kim, CEO, Firefly AerospaceJulianna Scheiman, director, NASA science missions, SpaceXMark Burger, launch weather officer, Cape Canaveral Space Force Station’s 45th Weather Squadron

Audio of the teleconference will stream live on the agency’s website:

https://www.nasa.gov/live/

Media may ask questions via phone only. For the dial-in number and passcode, please contact the Kennedy newsroom no later than 12 p.m. EST on Tuesday, Jan. 14, at: ksc-newsroom@mail.nasa.gov.

Wednesday, Jan. 15
12:30 a.m. – Launch coverage begins on NASA+ and the agency’s website.

1:11 a.m. – Launch

NASA Launch Coverage
Audio only of the media teleconferences and launch coverage will be carried on the NASA “V” circuits, which may be accessed by dialing 321-867-1220, -1240, or -7135. On launch day, the full mission broadcast can be heard on -1220 and -1240, while the countdown net only can be heard on -7135 beginning approximately one hour before the mission broadcast begins.

On launch day, a “tech feed” of the launch without NASA TV commentary will be carried on the NASA TV media channel.

NASA Website Launch Coverage
Launch day coverage of the mission will be available on the NASA website. Coverage will include live streaming and blog updates beginning no earlier than 12:30 a.m. EST Jan. 15, as the countdown milestones occur. On-demand streaming video and photos of the launch will be available shortly after liftoff. For questions about countdown coverage, contact the Kennedy newsroom at 321-867-2468. Follow countdown coverage on our launch blog for updates.

NASA Virtual Guests for Launch
Members of the public can register to attend this launch virtually. Registrants will receive mission updates and activities by email, including curated mission resources, schedule updates, and a virtual guest passport stamp following a successful launch. Print your passport and get ready to add your stamp!

Watch, Engage on Social Media
Let people know you’re following the mission on X, Facebook, and Instagram by using the hashtag #Artemis. You can also stay connected by following and tagging these accounts:

X: @NASA, @NASAKennedy, @NASAArtemis, @NASAMoon

Facebook: NASA, NASAKennedy, NASAArtemis

Instagram: @NASA, @NASAKennedy, @NASAArtemis

Coverage en Español
Did you know NASA has a Spanish section called NASA en español? Check out NASA en español on X, Instagram, Facebook, and YouTube for additional mission coverage.

Para obtener información sobre cobertura en español en el Centro Espacial Kennedy o si desea solicitar entrevistas en español, comuníquese con Antonia Jaramillo o Messod Bendayan a: antonia.jaramillobotero@nasa.gov o messod.c.bendayan@nasa.gov.

For media inquiries relating to the launch provider, please contact SpaceX’s communications department by emailing: media@spacex.com. For media inquiries relating to the CLPS provider, Firefly Aerospace, please contact Firefly’s communication department by emailing: press@fireflyspace.com.
For more information about the agency’s CLPS initiative, see:

https://www.nasa.gov/clps

 

View original content to download multimedia:https://www.prnewswire.com/news-releases/nasa-sets-coverage-for-firefly-first-commercial-robotic-moon-launch-302348344.html

SOURCE NASA

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Universal Brain Announces Publication of Groundbreaking Depression Research Using Multiple Event-Related Potentials

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New findings support the company’s neuroscience-driven approach to precision psychiatry, offering actionable insights for personalized depression treatment

PALO ALTO, Calif., Jan. 10, 2025 /PRNewswire/ — Universal Brain, a pioneering technology company focused on transforming mental healthcare through neuroscience, today announced the publication of its latest peer-reviewed study, “Neurotyping depression using multiple event-related potentials (ERPs): Leveraging task-based variation to predict remission in depression,” the paper introduces a novel framework for detecting unique neurophysiological patterns that can help predict which depressed patients are most likely to achieve remission from depression.

“By combining several EEG paradigms with novel statistical analyses, we’re moving closer to a future where depression therapies can be precisely tailored to each individual,” said Kazu Okuda, Chief Executive Officer of Universal Brain. “In particular, we are poised to leverage a battery of EEG paradigms to better subtype depression – which will pave the way for more precision in treatment development and selection.  These functional measures of brain activity (i.e., neurotypes) will be used to determine what treatment works best for whom.”

Key Highlights of the Study

Multi-Task ERP Analyses
The study leveraged multiple cognitive and emotional tasks to capture a broader spectrum of brain responses, thereby enabling more robust classification of distinct depression subtypes.Predictive Neurotyping
Through comprehensive ERP assessment, researchers identified patterns linked to a higher likelihood of remission in depression, paving the way for more targeted clinical strategies. Combining ERPs from multiple tasks outperformed classifications based on more traditional single-task analyses.Implications for Precision Psychiatry
These findings underscore the potential of individualized treatment pathways—an approach backed by emerging research in the field of precision psychiatry, which calls for data-driven, personalized solutions to improve outcomes in mental health.

“This work is especially exciting because it bridges the gap between laboratory-based assessments and potential real-world clinical practice. We believe our new method can help physicians potentially select treatment but also help clinicians fine-tune therapeutic interventions to an individual’s unique neural signature,” commented Greg Hajcak, Chief Scientific Advisor of Universal Brain. “By leveraging multiple ERPs in varying tasks, we can aim to better predict who will respond to specific treatments, a key step in transforming how we approach depression management.”

Championing Precision Psychiatry

Universal Brain’s overarching mission is to integrate cutting-edge neuroscience with clinical insights to advance precision psychiatry—a transformative model of care that personalizes interventions based on individual biological, behavioral, and environmental factors. This focus resonates with emerging trends in psychiatric research to enhance treatment outcomes.

In close collaboration with academic institutions, research hospitals, and clinical partners, Universal Brain continues to drive neuroscience-based innovation that bridges the gap between academic discoveries and real-world patient care.

For more information on Universal Brain’s research and the company’s commitment to developing neuroscience-driven solutions for mental health, please visit universal-brain.com or email us at media@universal-brain.com.

About Universal Brain

Universal Brain is a science-driven technology company dedicated to revolutionizing mental healthcare by unlocking the power of precision psychiatry. Drawing on advances in neuroscience, data analytics, and engineering, Universal Brain develops innovative tools and platforms that personalize psychiatric treatment and improve patient outcomes. To learn more, visit www.universal-brain.com.

View original content to download multimedia:https://www.prnewswire.com/news-releases/universal-brain-announces-publication-of-groundbreaking-depression-research-using-multiple-event-related-potentials-302348351.html

SOURCE Universal Brain

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