At Home With Cambria Mortgage | July 2025
Staying informed on market conditions is key for navigating the real estate journey. Here’s what you need to know…
Housing Supply
Housing inventory continues to improve. In May, the U.S. had 1.54 million homes for sale—up 6.2% from April and more than 20% higher than a year ago. New listings rose across all regions, with the Midwest seeing an 8.2% bump. Months of supply now sits at 4.0, signaling a shift toward a more balanced market. More inventory gives buyers greater choice and may reduce competition compared to previous seasons.
Mortgage Rates
Mortgage rates remain range-bound, holding in the 6% to 7% range we’ve seen over the past year. As of late June, the average 30-year fixed rate dipped slightly to 6.81%. While that’s not low by historical standards, it’s a modest improvement from last spring. For example, a buyer putting 20% down on a typical $367,700 home now pays around $1,919 per month in principal and interest—$44 less than someone who bought the same time last year at a higher rate which adds up over time.
Homes Prices
Home prices are still climbing, but the pace has slowed. In mid-June, the national median sale price hit a record $396,500, up just 1% from last year. The median list price held steady at $440,000, showing virtually no year-over-year change. In many markets, especially in the Midwest, price gains are stabilizing as more homes hit the market and buyers regain some negotiating power.
Market Activity
National existing-home sales rose slightly in May—up 0.8% month over month—but were still 0.7% lower than a year ago. Homes are staying on the market longer, with the median days on market now at 36, five days more than last year. Only 29% of homes sold above asking, down from 32%, and pending sales dipped 1.5% nationwide. That said, the Midwest continues to show stronger demand than many coastal markets, thanks in part to better affordability and consistent buyer interest.
Looking Ahead
While affordability remains a concern, the current market offers some relief in the form of more inventory and steady rates. For buyers, that means more time to make decisions, more homes to choose from, and a chance to avoid bidding wars. Even though prices remain high, they’re rising more slowly, giving buyers a better shot at finding the right fit without feeling rushed.
Now is the time to get preapproved, understand your financing options, and explore tools like rate buydowns, first-time buyer programs, or alternative loan structures. The key is to buy when it makes sense for your budget, lifestyle, and goals—not just the market headlines.
Sources: Zillow, Zillow, Realtor.com, Redfin, Forbes