In February 2025, the U.S. housing market shows signs of stabilization, yet home sales remain below expectations. The typical home sold for approximately 1% below its listing price, with substantial discounts in certain metropolitan areas, exceeding 5%. Factors contributing to this shift include excess housing supply and changing demographics affecting demand in once-popular southern markets. After experiencing a spike in mortgage rates and rising prices, the current sale-to-list price ratio has fallen significantly since 2022, indicating a cooling housing market.
In major cities, typical homes are selling over 5% below their listing price, reflecting significant discounts as buyers find favorable conditions in once-booming markets.
The U.S. housing market, amidst a stabilization phase, witnessed a challenging year for buyers due to spiking mortgage rates and rising home prices, leading to decreased sales.
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