Piedmont Market Update - December 2024

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2025 Industry Insights

As we look ahead to 2025, we thought it would be interesting to hear from some of our local industry experts about the trends they predict for the coming year. From mortgage lending, housing prices, and rentals to interior design, architecture, and the art market, we’ve gathered their thoughtful predictions on what’s next. Continue reading to learn more about what they expect in the coming year.

Commercial Market

“I believe we will see a rebound of real estate activity, especially in multifamily and office sectors. We will see an active push to get back to the office five days a week by the end of 2025. This will have a big impact on multifamily and office spaces in the urban core of U.S. cities. Also, if interest rates decline, we will see a rebound of asset values locally and nationwide.”

-John Protopappas

Design Trends

"In 2025, home design embraces authenticity and soul, prioritizing spaces for connection and comfort. Expect libraries for quiet escapes, kitchens for communal cooking, and functional living rooms filled with natural materials and handcrafted details. Sustainability leads the way with locally crafted furniture and understated luxury, while bold art, calming neutrals, and biophilic touches create nurturing,

personal sanctuaries."

-Laura Martin Bovard

Laura Martin Bovard Interiors

Art Market

"The middle-art market is likely to see prices stabilize after recent increases, but transaction volume remains uncertain. While high stock prices support activity, economic uncertainty dampens major purchases. Closely tied to real estate trends, this market faces challenges from reduced new construction and home sales, likely extending its

current recession through 2025."

Mortgage Rates

“The presidential election results suggest we could face a ‘higher for longer’ period for mortgage rates, driven by several factors like a booming stock market, potential tax cuts, and

inflation concerns that might make it harder for the Fed to cut rates aggressively. Despite challenges like higher rates and home prices, housing activity may increase in 2025 as people adapt to this ‘new normal’”.

-Brady Thomas

La Salle Mortgage

Housing Prices and Inventory

“The dramatic rise in interest rates starting in March 2022 had a wide-ranging impact on real estate prices and transaction volume in 2023 and 2024. In 2025, for our local markets, I foresee a moderate increase in the number of total transactions and a marginal upward trend in sales prices. These trends are predicated on a relatively stable interest rate environment; a dramatic downward (or upward) adjustment in mortgage rates could have a more notable impact on prices and total sales volume.”

- Carrie McAlister

Calia Homes