JUNE 26, 2025, EDITION

Builders started more new single-family homes in May, though starts overall slipped—solely from a drop in multi-families. But completions grew more than 5%, coming in above the 1.5 million annual rate 11 of the last 12 months.

That created the largest inventory of completed single-family homes in 16 years! Consequently, builders took out fewer building permits in May, as they focused on developing buyer incentives to sell their completed projects.

The Mortgage Bankers Association revealed that in May "credit supply increased to its highest level since August 2022...as lenders offered a greater variety of loan types to support the spring homebuying season."

A major data firm reports that over a recent four-week period, only 28% of homes sold above asking price, a sign of a buyer's market. In comparison, 53% of homes sold above listing price in the seller's market we had three years ago.

In fact, Realtor.com finds "today's market more buyer-friendly than a year ago." They note, "new listings are rising, inventory is rebounding, and prices are holding steady," while "consumer confidence is also increasing."

Another data firm found home price growth was up just 2% year-over-year in April, "the lowest growth in more than a decade," noting that improved supply is "helping keep softer price pressures for those looking to buy this spring."

DID YOU KNOW?... Home price growth should keep softening. There are now nearly half a million—over 33%—more sellers than buyers. A year ago, there were just 6.5% more sellers. Two years ago, buyers outnumbered sellers.

The national average 30-year fixed mortgage rate moved down again, reaching a four-week low, in Freddie Mac's weekly survey. Remember, mortgage rates can be extremely volatile, so check with your mortgage professional for up-to-the-minute information. 

VA mortgages are available to active-duty military, veterans, and eligible surviving spouses. They offer no down payment, no mortgage insurance, limited closing costs, flexible credit guidelines, and the industry's lowest average fixed interest rates. We're happy to refer you to a trusted lender to see if you qualify.

Realtor.com says nearly two out of three potential sellers have been thinking about a move for more than a year. If that's you, the important question to ask is: what kind of home do you need for the life you're living now. If it's not the home you're in, the sooner you make your move, the better.