Weekly Housing Headlines

Pending home sales declined 6.3% in April; Mortgage applications decreased 1.2% from one week earlier; U.S. house prices rose 4.0% between the first quarter of 2024 and the first quarter of 2025; homebuyer affordability declined slightly in April; a new report found that there were nearly 500,000 more home sellers in the market than buyers as of April – the largest margin in 12 years; and as spring comes to a close, the season is ending with signs of a more favorable market for buyers.

Pending Home Sales Declined 6.3% in April
National Association of Realtors - 5/29/2025
Year-over-year, contract signings ascended in the Midwest. Conversely, the Northeast, South and West reduced – with the biggest downswing in the West, followed by the South.

Mortgage Applications Decrease in Latest MBA Weekly Survey
Mortgage Bankers Association - 5/28/2025
Mortgage applications decreased 1.2 percent from one week earlier, according to data from the Mortgage Bankers Association’s Weekly Mortgage Applications Survey for the week ending May 23, 2025.

U.S. House Prices Rise 4.0 Percent over the Prior Year; Up 0.7 Percent from the Fourth Quarter of 2024
FHFA - 5/27/2025
U.S. house prices rose 4.0 percent between the first quarter of 2024 and the first quarter of 2025, according to the U.S. Federal Housing House Price Index.

Mortgage Application Payments Increase in April
Mortgage Bankers Association - 5/29/2025
Homebuyer affordability declined slightly in April, with the national median payment applied for by purchase applicants increasing to $2,186 from $2,173 in March.

Home sellers now outnumber buyers by largest margin in 12 years, report finds
CNN Business - 5/29/2025
A new report from Redfin found that there were nearly 500,000 more home sellers in the market than buyers as of April, the largest gap between the two groups since Redfin began compiling the data in 2013.

Weekly Housing Trends View — Data for Week Ending May 24, 2025
Realtor.com - 5/29/2025
As spring comes to a close, the season is ending with signs of a more favorable market for buyers — more inventory, slower competition, and relatively steady prices.

Slight affordability gains offer little relief for low-income homebuyers
Mortgage Professional America - 5/27/2025
The latest Cost of Housing Index revealed that in Q1 2025, a family earning the national median income of $104,200 needed 36% of that income to afford mortgage payments on a median-priced new home, which cost $416,900.

The Rise In U.S. Home Prices Slowed In March As Buyers Pulled Back
Financial Advisor - 5/27/2025
A national gauge of prices was up 3.4% from a year earlier, according to data from S&P CoreLogic Case-Shiller. That was smaller than the 4% annual increase in February.

Redfin Reports Luxury Pending Home Sales Fall 10% to Lowest April Level in Over a Decade as Stock Market Volatility Sidelines Wealthy Buyers
Redfin - 5/27/2025
The typical U.S. luxury home sold for a near-record $1,348,065 in April, up 6.5% from a year earlier, as pending sales dropped to the lowest level in over a decade amid economic uncertainty.

Overcoming Affordability Factors
MortgagePoint - 5/23/2025
According to Bankrate’s 2025 Home Affordability Report, the biggest obstacles to homeownership include saving for a down payment and closing costs, rising living expenses and high home prices.