MAY 29, 2025, EDITION

April saw new home sales surge nearly 11%, the biggest monthly gain in two years. Inventory rose 9% for the year—and buyers are getting better deals, with the median sales price 2% below a year ago.

Sales of pre-owned homes slipped in April, but more homes are listed. The National Association of Realtors noted, “with the highest inventory levels in nearly five years, consumers are in a better situation to negotiate for better deals.”

After dropping in March, housing starts rebounded in April, all due to multi-unit projects. Single-family starts and new building permits declined, as builders focused on completions, which have been running strong since last year.

With the total number of homes for sale nearly 30% higher than a year ago, buyers are enjoying more choices, as well as more time to choose, with homes on the market six days longer than a year ago.

First American Sales & Analytics reports that with regard to home prices, “the annual growth rate has slowed to its lowest level since 2012, underscoring the ongoing rebalancing in the market.”

Mortgage giant Fannie Mae’s latest forecast reports almost 4% growth in home sales for 2025, and nearly a 7% rise for 2026, supported by economic growth both this year and next.

DID YOU KNOW?… A major mortgage research firm reports rate locks on purchase mortgages were up almost 8% month-over-month in April, while both the average purchase price and average loan amount fell from the month before.

Freddie Mac’s weekly Primary Mortgage Market Survey reported the national average 30-year fixed mortgage rate inched up, but continued to stay lower than a year-ago. Remember, mortgage rates can be extremely volatile, so check with your mortgage professional for up-to-the-minute information. 

Don’t let student loan debt deter you from a home purchase. 32% of first-time buyers had student loan debt. If your income is steady and your finances solid, home ownership can be within your reach. We’re happy to refer you to a loan officer who can help.

In most markets, home sales have slowed, although homes are still selling faster than before the pandemic. To make sure your home sells fast, price it right—overpricing drives buyers away—and dial up your curb appeal—buyers decide in seconds whether or not they like a home.