This Spring in Real Estate

The spring real estate market remains challenging, though there’s a silver lining—mortgage rates have recently seen their largest weekly decline since last September. While this drop offers some relief, rates are still high enough to make homeownership difficult for many. Experts predict rates could remain elevated throughout the year, keeping financing costs significant and limiting purchasing power. Even in areas with stable or slightly declining prices, borrowing costs remain a major hurdle. There has been an increase in inventory as sellers who waited are now fearing missing out on a top sale price.

New buyers, unlike those with existing home equity, face higher monthly payments—adding hundreds or thousands to annual housing costs. Many are adjusting by considering smaller homes, different neighborhoods, or even delaying purchases.

MY VIEWPOINT:

In this market, flexibility is everything. Homes priced under $1.3 million are getting a ton of attention, often pulling in a dozen offers OR MORE. BUYERS HAVE AN ADVANTAGE OVER 1.5M AND Sellers Over That price, might need to get creative—like pricing competitively or offering perks such as help with closing costs—to stand out. Buyers should team up with real estate pros and financial advisors to figure out what’s doable within their budget. The market’s tricky, but with some patience and outside-the-box thinking, there are still good opportunities out there in 2025.