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U.S. homebuyers gain leverage as housing supply increases

Posted on February 26, 2025   |  

U.S. home sale prices increased by 3.7% year over year for the four weeks ending February 16, marking the slowest rise since September.

The average 30-year mortgage rate dropped to 6.87%, the lowest level so far in 2025.

Housing inventory expanded to a five-month supply, up from 4.1 months a year ago, reaching its highest level since early 2019, aside from a brief peak in January.

New home listings grew by 4.2% compared to last year, reaching the highest level for this period in three years.

Buyers gained more negotiating power, with the typical home selling for 2% less than the asking price, the largest discount in two years.

Market trends varied by location, with Florida's coastal areas favoring buyers, while sellers still had the advantage in parts of the West Coast and Northeast.

Los Angeles experienced a 21.9% jump in new listings after recent wildfires, while pending sales rose 7.4%, making it one of only seven major metro areas with sales growth.



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