MARCH 20, 2025, EDITION

The number of listed homes keeps growing nationally. There were almost 28% more homes for sale in February than a year ago, the 16th straight month of annual gains! Plus, the median price now is lower than a year ago.

Builders spent about the same amount of money on residential construction in January as they did in December, putting builder spending more than 3% higher than January a year ago.

The Mortgage Bankers Association reports applications for purchase mortgages rose again for the week. Entering the spring homebuying season, purchase mortgage applications are more than 4% higher than a year ago.

Realtor.com says the best time to sell is the week of April 13, with higher home prices and buyer demand, and less competition from other sellers. Zillow found sellers get the best returns if they list in the second two weeks of May.

Nationally, home prices are stabilizing. Last week, Realtor.com reported “the 41st consecutive week that the national median home list price has either remained steady or declined compared to the same week last year.”

The number of new homes built in 2024 exceeded the number of new households for the first time in eight years—and the number of completed homes was the highest in nearly two decades.

DID YOU KNOW?… The mortgage credit availability index increased in February for the third month in a row. According to the Mortgage Bankers Association, increases in the index suggest that more credit is available to borrowers. 

In Freddie Mac’s weekly Primary Mortgage Market Survey, the national average 30-year fixed mortgage “remained essentially flat from last week,” lower than it’s been the last few months. Remember, mortgage rates can be extremely volatile, so check with your mortgage professional for up-to-the-minute information. 

The three most important things in real estate? Location, location, and location. The old adage is true because where your home is located is the one thing you cannot upgrade over time. So, start your homebuying process by choosing the location with homes in your price range that best meets your likes and needs.

As inventory grows, buyers are getting picky. Think about what you’d want as a buyer. Key on the quick fixes you can do in the time you have, but don’t ignore repairs that could be big turn-offs. Also give priority to energy efficient upgrades.