A More Measured Housing Market Emerges
A temporary government shutdown and severe winter weather added fresh uncertainty to a housing market searching for balance. While conditions have since normalized, the pause highlighted just how sensitive today’s market is to broader disruptions.
Mortgage rates for a 30 year fixed loan are hovering just above 6%, offering relative stability even without a dramatic drop. With the Federal Reserve holding rates steady, buyers have a clearer baseline as they evaluate affordability and long term plans.
Homeownership has inched higher, supported in part by gains among younger households. At the same time, many sellers remain cautious. The result is a market gradually tilting toward buyers, with softer pricing and less intense competition.
Inventory remains higher than it was a year ago, with active listings up year over year and that increase is giving buyers more choices. The overall pace of new listings has slowed as some homeowners wait for steadier conditions before entering the market. Even so, most major metro areas are seeing more homes available compared to last year.
Properties are also taking longer to sell and homes are spending more time on the market than they were a year ago, signaling a shift in buyer urgency. This is more than typical seasonal cooling and reflects buyers taking their time to weigh options more carefully.
List prices have adjusted as well. Median asking prices have declined year over year for consecutive weeks, suggesting sellers are recalibrating expectations in response to slower activity and more price sensitive demand.
Overall, the market is not stalled, but it is more measured. Buyers have leverage, sellers need strategy, and patience is playing a bigger role on both sides of the transaction.
If you are thinking about buying, selling, or simply evaluating your options, now is the time to build a smart plan. Reach out anytime to talk through your goals and position yourself confidently in this market!
