MAY 15, 2025, EDITION

The Mortgage Bankers Association reported weekly applications rose 13% for purchase mortgages not offered by the government (FHA, VA, etc.)—a “strong move” for people who are “more apt to be move-up buyers.”

The index tracking signed contracts on pre-owned homes spiked 6.1% in March, its biggest monthly gain in three years. The National Association of Realtors said this “implies a sizable build-up of potential home buyers.”

Overall spending on residential construction cooled a bit in March, but still came in almost 3% ahead of last year. Best of all, spending on single-family builds posted an increase for the month. 

Realtor.com declared the spring housing market is “in full bloom.” Last week, the number of homes for sale hit its highest level in six years, with new listings the highest in three years, and seller price reductions ahead of last year.

ATTOM data found the most active times of the year are just ahead. From 2015 through 2024, June saw more than 4.7 million home sales—the most for any month—followed by August (over 4.6 million) and July (over 4.5 million). 

First American Data & Analytics reported home prices grew less than 2% in March, a 13-year low, noting “household income growth is now outpacing house price appreciation,” increasing affordability.

DID YOU KNOW?… A survey of real estate agents found over two thirds are “more optimistic” or “significantly more optimistic” about their market, and almost half said the spring market has been stronger than expected.

In Freddie Mac’s weekly Primary Mortgage Market Survey, the national average 30-year fixed mortgage rate was unchanged, well below its level a year-ago. Remember, mortgage rates can be extremely volatile, so check with your mortgage professional for up-to-the-minute information. 

Many mortgage options require much less than a 20% down payment—some with as little as 3% down or nothing at all—plus there are even down payment assistance programs for qualified borrowers. We’re happy to refer you to a loan officer who can show you what’s available.

Location is important, and while you can’t change where your house is located, we can make sure your listing highlights the best features of your area. Bringing out what’s special about your neighborhood gives buyers a better idea of what it would be like to live in your home.