🏡 April 2025 Housing Market: A Shift Toward Buyer Favorability
The U.S. housing market in April 2025 exhibited signs of transitioning from a seller’s to a buyer’s market, influenced by elevated mortgage rates, rising home prices, and increased inventory
📉 Decline in Pending Home Sales
Pending home sales, indicative of future closed transactions, experienced a 7.7% decrease from March and a 7.4% drop compared to the previous year. This downturn was observed across all regions, with the Midwest facing the most significant decline at 8.7% year-over-year.
💰 Home Prices Reach New Heights
The national median home price reached a record high of $425,000 in April, marking a 14.2% increase from the previous year. Despite this surge, the rate of price growth has slowed, with fewer homes experiencing price reductions compared to pre-pandemic levels.
⏳ Homes Spending More Time on the Market
The typical home spent 49 days on the market in April, 17 days longer than the same period last year. However, this duration remains shorter than the pre-pandemic average, indicating a still-active market with evolving dynamics.
🔄 Increased Inventory and Seller Adjustments
Inventory levels rose by 20% year-over-year, with more homes entering the market. Notably, 12.2% of active listings had price reductions, up from 6.8% in April 2022, suggesting sellers’ responsiveness to buyer expectations.
📍 Regional Insights
Southern metros like Austin, Las Vegas, and Houston experienced notable price declines, while cities such as Miami, Orlando, and Phoenix saw significant year-over-year price increases.
Key Takeaway: April’s housing market data indicates a shift toward a more balanced environment, offering potential advantages for buyers, including increased inventory and more negotiating power.
