Realtor.com
Homebuyers were in for good news this week, as mortgage rates dropped to their lowest level since April—6.63% for a 30-year fixed mortgage for the week ending Aug. 7, 2025, according to Freddie Mac. Rates have held steady this spring and summer. This is a good break for current home shoppers and may spur others to restart their home search.
Higher tariffs went into effect this week and add to the uncertainty that could offset some of the benefits of lower rates. The estimated tariff rate now in effect is 18.3%, or roughly 7 to 8 times what was in place at the beginning of 2025 (2.4%). Tariffs have raised more revenue. In June, we saw customs collections were roughly 3 to 4 times the prior state.
In July, consumers had mixed reactions to conditions. Concern about job loss improved in the month, but it remains higher than in the prior year. With other improvements, this was enough to nudge the home purchase sentiment index up slightly from both last month and the prior year.
Selling attitudes in the survey were flat to weaker, something we see reflected in the Realtor.com® Weekly Housing Trends report. New listings climbed less than 2% in the past year. This, combined with a smaller gap in time on the market, helped to slow the rate of active listings growth, even as price trends remain relatively flat to slightly higher.
Looking at July housing data, variations in price cuts across metro areas illustrate a lesson for home sellers in this shifting environment. Data shows that markets with growing time on the market also tend to have a greater share of homes with price cuts. This underscores the importance of pricing for the market, especially if a quick sale is a priority.
In the New-Construction Insights report, we also see buyer-friendly news. The price premium on a newly built home is at a historic low, and in 30% of the 100 largest markets, new-home listing prices have declined. The biggest drops are primarily in Southern metros where inventory is high and demand has cooled.
Realtor.com released our Hottest ZIP Codes of 2025. In a generally cooler housing market, in which a smaller pool of buyers prioritize value and livability, some areas stand out for attracting outsized interest.
In 2025, these ZIP codes were again clustered in the Northeast and Midwest, including the No. 1 market, Beverly, MA (01915). If you’re curious about Hot ZIP codes in other regions or how markets stack up on a metrowide level, we’ve broken it all down for you, too.
(Realtor.com)
(Realtor.com)
(Realtor.com)