Knight Frank – US Residential Market Insight, Q4 2024

The Q4 2024 report by Knight Frank provides a comprehensive analysis of the U.S. residential market, highlighting key trends and projections. The report notes that while high interest rates have pressured transaction volumes, a lack of sales inventory is supporting price growth. In prime markets, the significant post-COVID repricing is ending, leaving New York looking good value. The report also highlights that U.S. housing inventory has fallen by 33% against the five-year average, and luxury values in Palm Beach have risen 111.9% since January 2020. Additionally, the report indicates that prime rents in New York have grown by 57% since Q1 2020, and that U.S. prime market performance has varied, with some areas experiencing significant growth and others remaining stable.