The US housing industry is experiencing a complex period of transition as of late July 2025. Despite signs of economic stability, the market is contending with stubbornly high mortgage rates, record prices, and buyer hesitancy. According to Freddie Mac on July 24, the average 30-year fixed mortgage rate is 6.74 percent, nearly unchanged from last week and just slightly lower than a year ago. The 15-year fixed rate ticked down to 5.87 percent, but these rates remain elevated compared to pre-pandemic levels, contributing to persistent affordability issues for new buyers.

Existing home sales in June dropped 2.7 percent from May, hitting the lowest level in nine months at a seasonally adjusted annual rate of 3.93 million. This marks a continuation of tepid sales activity that has characterized the market for over a year, especially as affordability concerns and reluctance to swap low-rate mortgages keep would-be buyers and sellers on the sidelines. While supply is rising, with national housing inventory up nearly 17 percent year over year, home prices continue to climb. In June, the median existing-home price hit a record high of $435,300, a 2 percent increase from last year.

Consumer behavior is shifting: more buyers are holding out for lower prices or rates, while many homeowners are delisting their properties rather than sell at unfavorable prices. Delistings surged 47 percent over the past year. There are also more price cuts, with 24 percent of Zillow listings seeing reductions as sellers in the South and West try to attract buyers, but most major metro areas remain unaffordable for first-time buyers.

On the regulatory front, the recent boost to the SALT deduction cap may offer some relief in high-tax areas, but the impact is localized. Meanwhile, renters are staying put as the cost of owning remains prohibitively high for many, with rents down 2.7 percent from their 2022 peak.

Compared to previous years, the current market features more balance between buyers and sellers, but remains geographically uneven and climate by affordability challenges. Leading firms are responding with aggressive price adjustments and lobbying for supportive policies, yet meaningful improvement may hinge on future moves from the Fed regarding rate cuts.

For great deals today, check out https://amzn.to/44ci4hQ

The US housing market over the past 48 hours reveals a sector in transition. The latest data shows that while home prices are at record highs, price growth is slowing noticeably compared with prior months. The median asking price for a US home rose 2.2 percent to 403,000 dollars for the four weeks ending July 20, marking the smallest increase since August 2023. The median sales price during this period hit a record 399,000 dollars, but annual price growth has slowed to just 1.6 percent compared to the 5 to 6 percent increases seen through most of 2024 and early 2025. This cooling trend is creating more leverage for buyers and encouraging some to reenter the market after months on the sidelines.

Despite these moderating price increases, housing affordability remains a critical issue. Median prices for existing homes climbed to 435,300 dollars last month, breaking previous records. The National Association of Realtors confirms the market has reached its most unaffordable level in years. Mortgage rates remain elevated, with the average 30-year fixed-rate mortgage standing at 6.75 percent. While buyers hoped for a significant drop in rates following last year's Federal Reserve rate cuts, rates have stayed stubbornly high, reinforcing affordability challenges.

Sales volumes continue to be weak. Existing home sales are projected to decline 1.5 percent in 2025, potentially reaching the lowest level since 1995. The number of failed home sale agreements hit a new high, with almost 15 percent of pending transactions falling through in June. Buyers are increasingly hesitant, often opting to rent rather than purchase due to high costs and continued economic uncertainty.

On the supply side, housing inventory is up 17 percent year over year, and there is now a 3.5-month supply of homes—more than at any point in the past several years. Builders are adjusting to softer demand by slowing new construction, with new home sales remaining sluggish and median new home prices down nearly 5 percent from May. Leading industry platforms like Zillow now forecast a minor decline in home values by the end of 2025, a notable shift from earlier bullish outlooks.

In short, the US housing market is experiencing softer growth, increased inventory, persistent affordability problems, and a cautious, price-sensitive consumer base. While not a crash, these changes represent a significant turn from the rapid gains and overheated conditions of recent years.

For great deals today, check out https://amzn.to/44ci4hQ

The US housing industry has entered late July 2025 in a holding pattern, with affordability challenges and high mortgage rates frustrating both buyers and sellers. Recent data from Realtor.com shows the median listing price dropped slightly by 0.2 percent year over year, while active listings surged 28 percent, revealing a sizable rise in inventory. However, buyers remain cautious, and homes are spending more time on the market. Mortgage rates hovered at an elevated average above 6.8 percent, stalling buyer demand and forcing sellers to reduce prices or offer concessions to close deals.

The most recent government figures show new single-family home sales edged up just 0.6 percent in June to a seasonally adjusted annual rate of 627,000 units, still 6.6 percent below a year earlier. Builders are hesitant, especially outside the Midwest, as single-family housing starts remain soft and builders deploy incentives to move inventory. In response to softening demand, some national homebuilders are introducing limited-time price reductions and more flexible financing packages.

Despite higher inventory, would-be buyers are still largely sitting on the sidelines. The Wall Street Journal and Realtor.com report that Northeastern and Midwestern metro areas featuring more attainable price points, such as Manchester-Nashua, New Hampshire, and Canton-Massillon, Ohio, are now leading the market in home appreciation and sales activity.

Fannie Mae revised its 2025 projections downward this week, now expecting annual home price growth of just 2.8 percent and year-end mortgage rates at 6.4 percent, a slight decrease from prior forecasts. Overall, sales volumes are expected to remain sluggish compared to recent years, though mortgage origination is still projected to rise due to pent-up demand.

Meanwhile, supply chain conditions have stabilized but not significantly improved; material costs remain modestly elevated, limiting construction activity. Compared to last summer, there is a notable shift in consumer behavior: buyers are more selective, resale inventory is up, and sellers are less aggressive on prices. The market's affordability crunch is driving both consumers and providers toward the few regions still offering relative value.

For great deals today, check out https://amzn.to/44ci4hQ

The US housing industry is experiencing a major recalibration in July 2025. In the past 48 hours, the market is marked by a paradox of record-high home prices and slowing sales. Data released this week reveals that the national median existing home price hit an all-time high of 435300 dollars in June, up 2.7 percent year-over-year. However, sales of previously occupied homes fell 2.7 percent from May and are now at 3.93 million units for the month, the slowest pace since September last year. This is despite a sharp 29 percent annual surge in housing inventory, which has given buyers more options but not enough leverage to drive prices down significantly.

High mortgage rates remain a central challenge. Rates have hovered between 6.6 and 7 percent since January, only modestly below last year, continuing to suppress both sales activity and affordability. Compared to salary growth, home price increases have slowed, with median asking prices rising just 2.9 percent to 407000 dollars, while average wages have grown by 4 percent over the same period. This shift, along with falling pending sales and more frequent price reductions, especially in markets like Florida and Texas, is moving the market closer to balance after the turbulence of recent years.

Builders are responding to weakened demand by cutting prices and offering incentives at the fastest rate in three years. Confidence among builders improved slightly in July, yet remains deep in negative territory, reflecting persistent caution as unsold inventory rises and single-family housing starts are 10 percent lower than last year. Multifamily construction, however, has rebounded, temporarily boosting overall housing starts.

Regulatory and policy changes—most notably the possibility of reduced immigration under the new administration—could further affect both demand and construction labor supply in the coming months. Meanwhile, the number of homes under foreclosure increased to 187,659 nationwide in the first half of 2025, a sign of ongoing financial strain for some homeowners, though this remains below pre-pandemic levels.

In short, the US housing market appears to be transitioning away from a seller’s market, marked by excess demand, toward more balanced conditions with slower growth, greater choice for buyers, and softer prices in oversupplied regions. Industry leaders are adjusting by embracing targeted incentives, cutting prices, and focusing on operational efficiency, signaling a shift from aggressive expansion toward resilience and adaptation.

For great deals today, check out https://amzn.to/44ci4hQ

The US housing industry over the past 48 hours is showing visible signs of recalibration, with **elevated mortgage rates, growing inventory, softening prices, and increasingly cautious consumer behavior** defining current conditions. As of July 22, 2025, the average 30-year fixed mortgage rate hovered between 6.62 and 6.82 percent, marking only a slight dip from last week. These persistently high rates continue to challenge affordability and deter many potential buyers, pushing the market into what analysts describe as a “frozen state” where both home sales and new construction are subdued.

Housing inventory has finally started to improve after years of severe shortages. The number of homes for sale is now up 20 to 30 percent over last summer, recently surpassing one million nationally for the first time since 2019. Yet, inventory still sits about 10 to 15 percent below pre-pandemic levels. Increased listings are partly due to more sellers re-entering the market and homes spending longer durations unsold, especially outside the Northeast and Midwest where supply remains exceptionally tight. The South and West have seen the most robust inventory gains, aided by continued new construction.

Home prices are largely flat, with national averages up around 2.2 to 2.9 percent year-over-year, the slowest growth since before the pandemic. Recent data points to the median U.S. asking price at $407,000, and the median sale price at $399,633, but the pace has slowed. Sellers have begun lowering asking prices, and some are choosing to rent rather than sell. Buyer demand remains sluggish, with existing-home sales at a nine-month low and single-family housing starts and permits down to the lowest levels since mid-2024. As a result, 38 percent of builders cut prices in July, up from 29 percent in April.

Notably, the rental market and multifamily housing remain resilient, with apartment occupancy rates above 92 percent, driven by ongoing affordability challenges in homeownership. Industry leaders are responding by holding prices firm, slowing new builds, and in the case of office-focused REITs, cutting dividends to preserve liquidity. Compared to earlier this year, the market now faces sharper affordability constraints, rising inventory but weakening demand, and new stress signals that some economists warn could prompt broader economic drag if mortgage rate relief does not materialize soon.

For great deals today, check out https://amzn.to/44ci4hQ

The U.S. housing industry over the past 48 hours remains defined by affordability challenges, shifting supply dynamics, and mixed signals on market momentum. Inventory is rising, with total housing supply reaching 1.54 million units, the highest since the pandemic and representing a 4.6-month supply. However, this is still below pre-pandemic norms, which is helping to keep home prices firm nationwide. The median existing-home price reached $422,800 in May 2025, up 1.3 percent year-over-year, setting a new record for the month.

Mortgage rates have fluctuated between 6.7 and 6.9 percent since mid-April, causing both buyers and sellers to hesitate. While rates dipped slightly from their 2024 peak, they remain historically high. This has deterred many first-time buyers, as affordability is now at a generational low. Homeownership rates have stagnated at around 65.1 percent, identical to a year ago, and only 43 percent of households can afford a $300,000 home. Sales volumes reflect this strain: existing-home sales edged up 0.8 percent in May from April but were still down from a year earlier, and new home sales last spring hit a three-decade low.

Market behavior is diverging along regional lines. The Northeast is showing slight price gains and faster sales, while markets in the South and West are cooling rapidly, with homes taking much longer to sell. Sellers in these slower regions are increasingly choosing to delist their properties instead of accepting lower prices, driving a spike in delistings—up 47 percent year-over-year.

Homebuilder sentiment improved modestly in July but remains weak, with new single-family housing starts falling 4.6 percent from May. Builders report that higher construction and borrowing costs are weighing on activity, pushing some to focus more on rental and multifamily units.

Industry leaders like the National Association of Realtors have downgraded their 2025 home sales outlook in response to persistently high mortgage rates, now projecting only 3 percent growth. Meanwhile, many sellers are relying on record high home equity, waiting for market conditions to meet their expectations rather than adjusting prices.

In summary, compared to a year ago, the industry shows signs of a slight supply-demand rebalance, but high prices and rates continue to keep overall activity muted. Buyers find more options, but affordability is a significant hurdle, and sellers remain reluctant to compromise, leading to standoffs in many markets.

For great deals today, check out https://amzn.to/44ci4hQ

The US housing industry has entered a new phase over the past 48 hours, marked by a jump in inventory and growing challenges for both buyers and sellers. According to Zillow, housing inventory reached a five-year high in June with 1.36 million homes for sale, up 17.2 percent year over year. This has led to more choices and increased bargaining power for buyers, with 26.6 percent of listings seeing price cuts—the highest share for June on record since 2018. Despite these changes, affordability remains a major hurdle, especially for first-time buyers, due to persistently high mortgage rates hovering around 7 percent and stagnating wages.

The landscape is increasingly neutral, meaning neither buyers nor sellers hold clear advantage. The pressure on sellers is growing, particularly in the South and West, where both supply and time on market have exceeded pre-pandemic levels. However, many sellers prefer to withdraw their listings instead of lowering prices, leading to delistings that have skyrocketed 35 percent year to date, outpacing inventory growth. This approach is enabled by historically high home equity, granting flexibility to wait out the market rather than settle for lower offers.

More buyers are abandoning deals at record rates. Redfin data shows more than 57,000 home purchase cancellations in June, equal to nearly 15 percent of contracts—an all-time high for that month going back to 2017. New home prices are also beginning to fall, especially in major Sunbelt markets, as builders counter weak demand and affordability issues by cutting prices or building farther from urban centers.

Rent growth continues, with national rents up 3.1 percent year over year, narrowing the gap between owning and renting and driving younger buyers to remain renters. Builders, facing rising costs and softening demand, are increasingly slashing new home prices, with 38 percent reporting reductions this July, up from 34 percent in May.

While leading analysts do not foresee a nationwide housing crash, most expect a period of subdued or flat price growth, increased regional volatility, and a slow return to sustainable stability. The housing market, once a driver of economic growth, is now expected to act as a headwind through late 2025, raising the risk of broader economic slowdown.

For great deals today, check out https://amzn.to/44ci4hQ

The US housing industry this week is showing mixed but slightly improved sentiment as builder confidence in July edged up following the passage of the One Big Beautiful Bill Act. The National Association of Home Builders Housing Market Index rose to 33, up a single point from June, but this remains among its lowest readings in more than two years. Key challenges remain: affordability is at historic lows and elevated mortgage rates continue to depress demand. The average 30-year US mortgage rate climbed to 6.75 percent, its second consecutive weekly increase, a level on par with rates a year ago. These elevated borrowing costs are a major barrier for prospective buyers and are expected to keep the market sluggish through the remainder of 2025.

Inventory, however, has seen a notable uptick. Active housing inventory in June surged 17 percent year over year to 1.36 million homes, nearing a six-year high. This growth in available homes has helped nudge the national market closer to balance, with 22 of the 50 largest metro areas now considered neutral, up from just eight markets a year ago.

Price adjustments are increasingly common as sellers try to attract limited buyers. A record 26.6 percent of listings saw price cuts in June. Nationally, the typical home value now stands at 367,369 dollars. Some metro areas are experiencing annual price growth, most notably Cleveland and New York, while others such as Austin, Tampa, and Miami are posting sharp declines.

New home prices have declined in several pandemic hot spots. Jacksonville, Naples, and Miami saw new home prices drop between 13 and 22 percent since their peaks. Meanwhile, markets like San Jose remain exceptionally expensive, with average new-home prices around 1.8 million dollars.

Builders and industry leaders are responding to these challenges by increasing incentives, implementing average price cuts of 5 percent, and lobbying for further policy reforms. Still, with single-family home permits down 6 percent year-to-date and builder traffic at a multi-year low, industry expectations for starts remain weak, a contrast to the slightly more active environment prior to 2023.

Trade policy uncertainty, supply chain volatility caused by tariff threats, and a slow drop-off in inflation have further complicated recovery for both buyers and builders. The market is showing early signs of stabilization, but affordability and borrowing constraints remain the dominant themes in the near term.

For great deals today, check out https://amzn.to/44ci4hQ

The US housing market is showing clear signs of cooling as of mid-July 2025. Mortgage rates remain stubbornly high, with the average 30-year fixed rate hovering near 6.8 percent, almost double what buyers saw just four years ago. Elevated rates are dampening demand, pushing many potential buyers to the sidelines and making homeownership less attainable for millions. This affordability crunch has caused existing-home sales to dip 0.7 percent year-over-year in June 2025, while median prices have stagnated or even declined in over half of the nation’s 100 largest markets.

Price growth slowed to just 1.3 percent annually in June, the weakest pace in two years. Markets like Austin, Tampa, and several Florida cities, including Cape Coral, have seen prices drop significantly, with Austin experiencing a decline of more than 100,000 dollars from peak values. The condo segment is under even more pressure, down 1.4 percent year-over-year, compared to a still-positive, but slowing, 1.6 percent rise for single-family homes.

Inventory is on the rise, now at a 4.6-month supply nationally, up sharply from 3.8 months in 2024. Listings are sitting longer, and there has been a 47 percent increase in properties taken off the market without selling—a symptom of sellers not finding willing or able buyers. Regionally, the West and South are seeing the sharpest declines in both sales and prices, while the Midwest and Northeast are more stable.

On the supply side, builders are cautious. The National Association of Home Builders forecasts a decline in single-family housing starts for the rest of 2025, citing a mix of demand uncertainty and rising material and labor costs. In response to these headwinds, industry leaders are doubling down on market intelligence: the National Association of Realtors just launched a new data dashboard to help agents better analyze affordability and navigate shifting market trends.

Compared to recent years’ red-hot market, today’s landscape is marked by moderation and increased risk for both buyers and sellers. Unless mortgage rates drop further—NAR projects that a fall near 6 percent could add more than 5 million qualifying households—the market seems likely to remain sluggish, with only modest relief forecast for 2026.

For great deals today, check out https://amzn.to/44ci4hQ

The US housing market has entered a period of notable transition over the past 48 hours, reflecting accumulating pressures from high interest rates, shifting inventory, and fresh consumer behavior. As of July 15, 2025, the average 30-year fixed mortgage rate stands at roughly 6.7 percent, having dipped briefly below 6.5 percent in early April but quickly rebounding. These stubbornly high rates—much higher than the record 2.65 percent seen in early 2021—are tamping down buyer enthusiasm and slowing home sales in many regions.

Recent labor market strength has boosted some consumer confidence; job gains in June nudged the unemployment rate down and outpaced inflation, slightly increasing purchasing power. However, the robust jobs data also quashed hopes for imminent Federal Reserve rate cuts, sending borrowing costs back up and limiting affordability for many families.

Inventory is on the rise: the number of homes for sale has now increased for 20 straight months, reaching the highest post-pandemic levels. This expanded inventory, especially in Metro areas of the Sun Belt, has given buyers more leverage. In these regions, sellers face slower-moving properties and a need for price cuts. Notable buyer markets now include places like Cape Coral, San Antonio, and Phoenix, all of which witnessed surging remote-work-fueled demand during the pandemic boom. By contrast, supply remains constrained in much of the Midwest and Northeast.

Price growth is flattening on a national scale. According to the Case-Shiller index, national prices are essentially flat year-to-date, and ICE data shows annual price growth slowed to just 1.3 percent in June, the lowest in two years. Some economists warn that, unless mortgage rates fall, the housing sector could soon become a significant drag on the broader economy.

A record $56 billion in US homes were purchased by foreign buyers over the past year, up 33 percent, with nearly half of these buyers paying cash—far above the share among domestic buyers.

Industry leaders and homebuilders are increasingly offering incentives and price flexibility to attract buyers, especially in overstocked Sun Belt markets. While fears of a major price collapse remain unlikely, the market is tilting in favor of buyers for the first time in years as supply rebounds and sellers adjust expectations.

For great deals today, check out https://amzn.to/44ci4hQ