Weekly Housing Headlines

The U.S. spring home-buying season had its weakest start in five years; mortgage applications increased 1.1% from one week earlier; the number of homes for sale rose to the highest level since December 2019; new home purchase mortgage applications increased 5.3% in April; pending U.S. home sales fell 3.4% year over year during the four weeks ending May 11; and home prices rose in a majority of U.S. metro areas in Q1 2025. May 4, according to a new report from Redfin.

U.S. Spring Home Buying Season Has Its Weakest Start In Five Years
Financial Advisor - 5/14/2025
The number of signed contracts was the lowest for the month since the Covid lockdown in 2020, according to seasonally adjusted data from Redfin Corp. Deals were down 3% from last April, already seen as a low mark.

Mortgage Applications Increase in Latest MBA Weekly Survey
Mortgage Bankers Association - 5/14/2025
Mortgage applications increased 1.1 percent from one week earlier, according to data from the Mortgage Bankers Association’s Weekly Mortgage Applications Survey for the week ending May 9, 2025.

Weekly Housing Trends View — Data for Week Ending May 10, 2025
Realtor.com - 5/15/2025
Last week, the number of homes for sale rose to the highest level since December 2019. At the same time, the typical home spent longer on the market, and the median listing price remained flat year-over-year.

April New Home Purchase Mortgage Applications Increased 5.3 Percent
Mortgage Bankers Association - 5/15/2025
The Mortgage Bankers Association Builder Application Survey data for April 2025 shows mortgage applications for new home purchases increased 5.3 percent compared from a year ago.

Redfin Reports Economic Jitters, High Costs Stifle Spring Home Sales
Redfin - 5/15/2025
Pending U.S. home sales fell 3.4% year over year during the four weeks ending May 11 to their lowest level on record for this time of year aside from 2020, according to a new report from Redfin.

Home prices rose in majority of U.S. metro areas in Q1 2025
Mortgage Professional America - 5/9/2025
More than four out of five U.S. metro areas experienced home price gains during Q1 2025, though the pace of appreciation moderated slightly from the prior quarter, according to the National Association of Realtors.

Here’s exactly how unaffordable today’s housing market is — and where it’s getting worse
CNBC - 5/15/2025
A new report from the National Association of Realtors and Realtor.com breaks down affordability and supply, shedding light on exactly where the pain points are in the market.

Mortgage Rates for New Homes Are Typically Lower, New Research Finds
Realtor.com - 5/9/2025
Last year, the average mortgage rate for buyers of new-construction homes was 6.1%, compared with an average of 6.6% for buyers of previously owned homes, according to Realtor.com.

Home equity dips slightly in Q1, but HELOC demand rises
Mortgage Professional America - 5/12/2025
The share of equity-rich homes dipped modestly in the first quarter of 2025, but nearly 30% of homeowners are considering tapping into their equity through loans or HELOCs as economic pressures linger.

Affordability Improves In California Amid Slower Price Growth
National Mortgage Professional - 5/14/2025
According to C.A.R., 17% of Californians could afford a median-priced, single-family home, up from 15% in Q4 2024 and flat compared to Q1 2024. Affordability, however, remains near historic lows.