Top of Mind More Home Sellers and More Home Sales in May (5/12/25 Market Update)
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May 13, 2025 The latest insights reveal a mixed bag in the U.S. housing market. May 2025 shows a slight rise in home sales, despite rising mortgage rates and ongoing affordability challenges. The analysis digs into trends around pending home sales and inventory levels, painting a complex picture of a market in flux. Tune in for a data-driven exploration of what’s really happening in real estate right now!
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Mortgage Applications Outpace Sales
- Mortgage applications have been rising since February 2025, exceeding 2024 levels.
- This may indicate a shift from cash buyers or pent-up demand preparing for increased home sales.
May Sales Growth Expected
- Weekly pending home sales in May 2025 are increasing compared to 2024 because last year's pace was unusually low.
- The 30-year fixed mortgage rate is stable under 7%, supporting potential sales growth.
Inventory Nears Pre-Pandemic Levels
- Unsold single-family home inventory is 33% higher than last year, nearing pre-pandemic normal levels.
- Inventory is steadily building, which puts downward pressure on prices despite slight sales increase.