Realtor.com
Existing-home sales declined on a monthly basis in June, while new-home sales remained essentially flat, as affordability challenges and broader economic uncertainty continued to weigh on the market.
Despite the sales slowdown, existing-home prices reached a new record high. In contrast, new-home prices declined both month over month and year over year, signaling continued adjustments from builders in response to today’s shifting market dynamics.
These trends align with our Midyear Housing Forecast Update. We expect existing-home sales to decline 1.5% this year, totaling just 4 million, while prices are expected to rise 2.5% year over year. Mortgage rates are also projected to ease in the second half of the year, though they will likely finish higher than initially anticipated.
Mortgage rates moved roughly sideways this week, edging down just 1 basis point. Since October, rates have hovered in the high-6% range, continuing to dampen buyer activity even as inventory levels rise.
In the Realtor.com® Weekly Housing Trends report, we see a mixed performance. Price growth and new listing activity picked up, while active listing growth slowed and time on market eased further. Buyers continue to see more for-sale inventory than last year, but stubbornly high prices are limiting demand.
While inventory levels have improved significantly, the U.S. housing market still faces a shortfall of nearly 4 million homes. Recent enthusiasm around selling federally owned land for development has sparked hope, but a key challenge remains: Much of this land is not located where housing demand is highest, limiting its potential to meaningfully close the gap.
(Realtor.com)
The Summer 2025 Housing Market Ranking, produced in collaboration with The Wall Street Journal, highlights markets that are not only competitive but also offer relative affordability and appealing quality-of-life amenities. This quarter, Manchester-Nashua, NH, claimed the top spot on the list. Manchester offers buyers value with a median list price of just $599,900 in June, well below nearby Boston’s median.
The Luxury edition of the Housing Market Ranking shines a spotlight on markets like St. Louis and Santa Fe, NM, where buyer demand remains elevated, and with good reason. These areas offer a compelling blend of upscale amenities, regional charm, and lifestyle appeal, all while maintaining relative value compared with traditional luxury hubs.
For luxury, St. Louis tops the list with a median list price of $697,000. Homebuyers are getting more bang for their buck, and at the same time, a blend of city living and hometown charm.
But the overall summer luxury trend appears to be buyers looking for quality of life over high-cost coastal living.
(Realtor.com)