Is It A Buyers Market? It Depends

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Lisa Sturtevant PhD Bright MLS, Housing Economist

Inventory is climbing, which has been welcome news for prospective homebuyers. However, the inventory picture is very different depending on where you are and the type of home you’re looking for.

According to data from realtor.com, at the end of May 2025, total inventory across the U.S. was at about 90% of the May 2019 level. But a very distinct pattern emerges when you look at inventory by metro area. Inventory levels surpass 2019 levels in southern metros in Florida, Texas, and Arizona as well as in Washington and Oregon in the Pacific Northwest. By contrast, inventory across the Midwest and Northeast, as well as in Southern California, remains below 2019 levels.

Mid-Atlantic inventory remains tight

In the Bright MLS service area, which covers six states and the District of Columbia, there were 42,981 active listings on the market at the end of May 2025. The number of active listings is now 25.1% higher than it was a year ago and inventory has been increasing across the Mid-Atlantic region for 16 consecutive months, as more homes are listed for sale and properties remain on the market longer.

However, despite the rapid rise, inventory is still well below pre-pandemic levels in most local markets across the Bright MLS service area. Overall, May 2025 inventory is just 64% of the May 2019 level across Bright’s footprint. In fact, there are just a handful of counties in the region where inventory has surpassed 2019 levels.

The urban area housing markets tend to have more inventory. In both Philadelphia and Washington, D.C., inventory is above pre-pandemic levels. In the close-in suburbs of Arlington and Alexandria, Virginia, inventory has also surpassed what was available to buyers in 2019.

There are many more local markets where inventory is still less than half of what was available in 2019. In most of the Philadelphia suburbs, for example, the number of active listings in May 2025 is less than 50% of May 2019 levels.

So, while more inventory is a welcome change for homebuyers in the marketplace, inventory is still relatively tight across much of the Mid-Atlantic region and sellers do still have the upper hand in the market.

read full Bright MLS article

Why the Data Matters

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Contrary to the negative reports surrounding the market, people continue to move. Not everyone can or wants to wait. Job changes, growing families, downsizing, and other life events often dictate timing more than market trends. That’s why I start with the numbers. Not very exciting, I know but they’re essential. Understanding the data fosters informed decisions and an easier, less stressful path toward your unique real estate goals. I’m here to provide the numbers, break them down, demonstrate how they may affect you and guide you through the best way forward.  DM me any time, and/or book a planning session. 

Jobs Market Still Healthy, but Uncertainty Drives Mortgage Rates Lower

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Danielle Hale, Chief Economist for Realtor.com
March 7, 2025

Greater D.C. Area: Weekly Housing Market Update

Monitor the latest market activity in and around the nation’s capital with our experts’ week-by-week data breakdown. 
March 10,  2025 by Lisa Sturtevant, Phd

  • New listing activity rising seasonally in the D.C. region. The number of new listings coming on the market this past week is higher than last week, which is a typical seasonal trend. In the Washington D.C. region, new listings rose by 10.5% compared to last week. Across the overall Bright MLS service area, new listings were up 10.9% week-to-week. Early March tends to be the time of the year when prospective sellers are getting set to list in anticipation of the spring housing market.  
  • Listings are still relatively higher in the Washington D.C. region though it is still too early to tell the extent to which DOGE is impacting homeowners. A total of 2,050 new listings came onto the market across the greater Washington D.C. region last week, which was 20.5% higher than the same week a year ago. Listings were up just 14.3% year-over-year in the broader Bright MLS footprint. If D.C. area homeowners were selling because they were impacted by federal government layoffs or back-to-the office mandates, we will continue to see relatively higher listing activity in the region in the weeks to come. 
  • The Southern Maryland market may be one to watch. In Calvert County and Charles County in Maryland, new listing activity spiked this week. While it’s not possible to attribute this activity to federal government workforce changes, this market is one to watch. About one in five workers living in Calvert and Charles counties is a civilian federal government worker, according to data from the 2023 American Community Survey. In addition, these Southern Maryland communities attracted a lot of homebuying activity during the pandemic, including many workers who were able to work remotely at the time and may now be called back to the office. 
  • Buyers are still out in the Washington D.C. region. There were 1,600 new pending contracts on homes in the D.C. region last week, a 12.1% increase compared to a week ago. This is a stronger week-to-week gain than we see in the broader Bright MLS service area and is a testament to the on-going demand within the area’s housing market. Places with more listing activity—for example, Calvert and Charles counties—saw some of the strongest uptick in new pending contract activity, as buyers took advantage of the increased availability of homes for sale.

FHFA: U.S. House Prices Rose 4.5% in 2024

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For Sale Sign in Front Yard of House - stock photo Close-up of for sale rider on real estate sign post in front yard of house

Getty Images
February 25, 2025

Most states and metro areas saw home price growth last year. Prices increased more in areas with tighter inventory.

WASHINGTON – U.S. house prices rose 4.5% between the fourth quarter of 2023 and the fourth quarter of 2024, according to the Federal Housing Finance Agency House Price Index (FHFA HPI). House prices were up 1.4% compared to the third quarter of 2024. FHFA’s seasonally adjusted monthly index for December was up 0.4% from November.

“U.S. house prices grew at a slightly higher rate in the fourth quarter after three straight previous quarters of weaker appreciation,” said Dr. Anju Vajja, deputy director for FHFA’s Division of Research and Statistics. “The price growth accelerated during the quarter as the inventory of homes for sale tightened even further.”

Significant Findings

Nationally, the U.S. housing market has experienced positive annual appreciation each quarter since the start of 2012.

  • House prices rose in 49 states between the fourth quarter of 2023 and the fourth quarter of 2024. The five states with the highest annual appreciation were 1) Connecticut, 8.3%; 2) New Jersey, 8.3%; 3) Wyoming, 8.3%; 4) Vermont, 8.1%; and 5) Rhode Island, 7.6%. House prices declined in Mississippi by 0.2%.
  • House prices rose in 92 of the 100 largest metropolitan areas over the previous four quarters.  The annual price increase was the greatest in urban Honolulu, HI at 18.7%. The metropolitan area that experienced the most significant price decline was Cape Coral-Fort Myers, FL at 6.3%.
  • All nine census divisions had positive house price changes year-over-year. The Middle Atlantic division recorded the strongest appreciation, posting a 7.1% increase from the fourth quarter of 2023 to the fourth quarter of 2024. The West South Central division recorded the smallest four-quarter appreciation, at 2.3%.

The FHFA HPI is a comprehensive collection of publicly available house price indexes that measure changes in single-family home values based on data that extend back to the mid-1970s from all 50 states and over 400 American cities. It incorporates tens of millions of home sales and offers insights about house price changes at the national, census division, state, metro area, county, ZIP code and census tract levels. FHFA uses a fully transparent methodology based upon a weighted, repeat-sales statistical technique to analyze house price transaction data.

Source: Federal Housing Finance Agency

When Is the Perfect Time to Move?

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couple with moving boxes

There’s no perfect time to buy a home – every market has trade-offs. If you’re ready and can afford it, lean on a pro to make the most of current trends.

NEW YORK — It’s easy to get caught up in the idea of waiting for the perfect moment to make your move — especially in today’s market. Maybe you’re holding out and hoping mortgage rates will drop, or that home prices will fall. But here’s what you need to realize: trying to time the market rarely works. And here’s why.

There is no perfect market

No matter when you buy, there’s always some benefit and some sort of trade-off — and that’s not a bad thing. That’s just the reality of it. If you’re not sure you buy into that, think back to the last five years in housing.

Just a few years ago, mortgage rates hit a historic low. To take advantage of that, a ton of buyers rushed to buy a home and lock in those lower rates. The side effect? With such a big increase in how many buyers were purchasing, the homes on the market were snapped up fast. And since that resulted in so few homes left for sale, bidding wars became the norm and home prices went through the roof. Those buyers got a great rate, but they had other things to contend with.

Now, with higher rates and higher prices, it’s more expensive to buy. You can’t argue that. But at the same time, the number of homes for sale is at the highest point in several years. That means you have more options to choose from and you’ll be less likely to find yourself in a pull-out-all-the-stops bidding war. Again, there are benefits and trade-offs in any market.

So, if you have a reason to move and can afford to do so, you’ve got to take advantage of the trends that work in your favor and lean on a pro to help you navigate the rest. As Bankrate says:

“The complexities of the current conditions mean that, now more than ever, it’s smart to lean on the guidance of an experienced local real estate agent. If you want to enter the housing market in 2025, whether as a buyer or a seller, let a pro lead the way for you.”

While achieving your goals may feel like an uphill battle in today’s complex market, it is doable. But you’ll need the help of a trusted real estate agent and a lender.

Your agent will help you explore creative solutions — like looking into different housing types (like smaller condos), considering homes that need a little elbow grease, or casting a wider net for your search area. And your lender will walk you through different loan options and down payment assistance programs, so you know what you need to do to make the numbers work for you. As Yahoo Finance says:

“Buying a house at a time when both mortgage rates and home prices are favorable is a challenge. You probably shouldn’t try to time the housing market … Buy when it makes sense for you personally.”

Bottom line

There’s no perfect time to move — every market has its pros and cons. The key is knowing how to make the most of the factors working in your favor. If you need to move and can afford to do it, let’s connect so you’ll have the guidance and tools to make it possible.

© Copyright Community Advocate 2025. All rights reserved.

Why Now’s Not the Time To Take Your House Off the Market

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Has your house been sitting on the market longer than expected? If so, you’re bound to be frustrated by now. Maybe you’re even thinking it’s time to pull the listing and wait to see what 2025 brings. But what you may not realize is, the decision to hold off could actually cost you. Here’s a look at why staying the course could be the smarter move.

Other Sellers Are Pulling Back. Should You Hold Off Too?

According to recent data from Altos Research, the number of withdrawals is increasing – that means more sellers are opting to pull their listings off the market right now. And this isn’t unusual for this time of the year.

In the housing market, there are seasonal ebbs and flows. Inventory levels typically start to drop off a bit headed into the fall season as some sellers delay their plans until the new year. As Mike Simonsen, Founder of Altos Research, explains:

“. . . we’re seeing a more normal seasonal pattern now with inventory beginning to decline. We’re also seeing more home sellers withdrawing their listings to try again next year. In fact, for every two sales, there is another listing withdrawn from the market.”

But is that a smart move? While it might seem like a good idea to pull your listing too, here’s why that approach may not pay off this year.

Today’s Buyers Are Serious and Ready To Act

The biggest reason to stick with your plan to sell now is that the buyers who are looking at this time of year are serious about making a purchase.

They’ve been sitting on the sidelines for a while waiting for affordability to improve. And now that mortgage rates are down from their recent peak, they’re ready to make their move. Mortgage applications are rising – and that’s a leading indicator that buyers are preparing to jump back in. And since they’ve already put their needs on the back burner for so long, they’re even more eager than buyers usually are at this time of year.

These aren’t window shoppers. They’re highly motivated buyers who want to move fast – and that’s the kind of buyer you want to work with. As Freddie Mac says:

“During the fall months, serious homebuyers are eager to settle in to a new home before the holiday season ramps up and the winter weather begins.”

By keeping your home on the market, you increase the chances of attracting people who are truly ready to make a purchase.

Bottom Line

While some sellers are choosing to take their homes off the market, this really isn’t the best move. With serious buyers eager to purchase, this is a great time to sell your house. Let’s connect to make sure we’ve got a strategy in place to make it happen. 

Local Real Estate Insights: Impact on Home Prices

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If you’re wondering what’s going on with home prices lately, you’re definitely not the only one. With so much information out there, it can be hard to figure out your next move.

As a buyer, you might be worried about paying more than you should. And if you’re thinking of selling, you might be concerned about not getting the price you’re aiming for. 

So, here’s a quick breakdown to help clear things up and show you what’s really happening with prices—whether you’re thinking about buying or selling. 

Home Price Growth Is Slowing, but Prices Aren’t Falling Nationally

Throughout the country, home price appreciation is moderating. What that means is, prices are still going up, but they’re not rising as quickly as they were in recent years. The graph below uses data from Case-Shiller to make the shift from 2023 to 2024 clear:


But rest assured, this doesn’t mean home prices are falling. In fact, all the bars in this graph show price growth. So, while you might hear talk of prices cooling, what that really means is they’re not climbing as fast as they were when they skyrocketed just a few years ago.

What’s Next for Home Prices? It’s All About Supply and Demand 

You might be curious where prices will go from here. The answer depends on supply and demand, and it’s going to vary by local market.

Nationally, the number of homes for sale is going up, but there still aren’t enough of them to meet today’s buyer demand. That’s keeping upward pressure on prices – even though recent inventory growth has caused that home price appreciation to slow. Danielle Hale, Chief Economist at Realtor.com, said:

“. . . today’s low but quickly improving for-sale inventory has ushered in more market balance than would otherwise be expected . . . This should help home prices maintain a slower pace of growth.” 

And here’s one other thing you may not have considered that could play a role in where prices go from here. Since experts say mortgage rates should continue to decline, it’s likely more buyers will re-enter the market in the months ahead. If demand picks back up, that could make prices climb a bit further.

Why You Should Work with a Local Real Estate Agent 

While national trends give a big-picture view, real estate is always local – especially when it comes to prices. What’s happening in your neighborhood might be different from the national average based on what supply and demand look like in your market. That’s why it’s crucial to get local insights from a knowledgeable real estate agent.

 As your go-to source for everything related to home prices, a local agent can provide the most current data and trends specific to your area.

So, if you’re planning to sell, they can help you price your house accurately. And when you’re ready to buy, they can find the right home that fits your budget and your needs.

Bottom Line

Home prices are still rising, just not as quickly as before. Whether you’re thinking about buying, selling, or just curious about what your house is worth, let’s connect so you have the personalized guidance you need.

Are We Heading into a Balanced Market?

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If you’ve been keeping an eye on the housing market over the past couple of years, you know sellers have had the upper hand. But is that going to shift now that inventory is growing? Here’s a breakdown of what you need to know.

What Is a Balanced Market?

A balanced market is generally defined as a market with about a five-to-seven-month supply of homes available for sale. In this type of market, neither buyers nor sellers have a clear advantage. Prices tend to stabilize, and there’s a healthier number of homes to choose from. And after many years when sellers had all the leverage, a more balanced market would be a welcome sight for people looking to move. The question is – is that really where the market is headed?

After starting the year with a three-month supply of homes nationally, inventory has increased to four months. That may not sound like a lot, but it means the market is getting closer to balanced – even though it’s not quite there yet. It’s important to note this increase in inventory is not leading to an oversupply that would cause a crash. Even with the growth lately, there’s still nowhere near enough supply for that to happen.

The graph below uses data from the National Association of Realtors (NAR) to give you an idea of where inventory has been in the past, and where it’s at today:

For now, this is still seller’s market territory – it’s just not as frenzied of a seller’s market as it’s been over the past few years. As Mark Fleming, Chief Economist at First American, says:

“The faster housing supply increases, the more affordability improves and the strength of a seller’s market wanes.”

What This Means for You and Your Move

Here’s how this shift impacts you and the market conditions you’ll face when you move. Lawrence Yun, Chief Economist at NAR, explains:

“Homes are sitting on the market a bit longer, and sellers are receiving fewer offers. More buyers are insisting on home inspections and appraisals, and inventory is definitively rising on a national basis.”

The graphs below use the latest data from NAR and Realtor.com to help show examples of these changes:

Homes Are Sitting on the Market Longer: Since more homes are on the market, they’re not selling quite as fast. For buyers, this means you may have more time to find the right home. For sellers, it’s important to price your house right if you want it to sell. If you don’t, buyers might choose better-priced options.

Sellers Are Receiving Fewer Offers: As a seller, you might need to be more flexible and willing to compromise on price or terms to close the deal. For buyers, you could start to face less intense competition since you have more options to choose from.

Fewer Buyers Are Waiving Inspections: As a buyer, you have more negotiation power now. And that’s why fewer buyers are waiving inspections. For sellers, this means you need to be ready to negotiate and address repair requests to keep the sale moving forward.

How a Real Estate Agent Can Help

But this is just the national picture. The type of market you’re in is going to vary a lot based on how much inventory is available. So, lean on a local real estate agent for insight into how your area stacks up.

Whether you’re buying or selling, understanding how the market is changing gives you a big advantage. Your agent has the latest data and local insights, so you know exactly what’s happening and how to navigate it.

Bottom Line

The real estate market is always changing, and it’s important to stay informed. Whether you’re buying or selling, understanding this shift toward a balanced market can help. If you have any questions or need expert advice, don’t hesitate to reach out.

The Number One Mistake Sellers Are Making: Overpricing Their House

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In today’s housing market, many sellers are making a critical mistake: overpricing their houses. This common error can lead to a home sitting on the market for a long time without any offers. And when that happens, the homeowner may have to drop their asking price to try to re-ignite buyer interest.

Data from Realtor.com shows the number of homeowners realizing this mistake and doing a price reduction is climbing (see graph below):

If you’re thinking about making a move yourself, here’s what you need to know. The best way to avoid making a costly mistake is to work with a trusted real estate agent to find the right price. Here’s a look at what’s at stake if you don’t.

Not Paying Attention To Current Market Conditions

Understanding current market conditions is key to accurate pricing. You don’t want to set your asking price based on what happened during the pandemic. The market has moderated a lot since then, so it’s far better to align your price with today’s reality.

Real estate agents stay updated on market trends and how they impact the pricing strategy for your house.

Pricing It Based on What You Want To Make (Not What It’s Worth)

Another misstep is pricing it based on what you want to make on the sale, and not necessarily current market value. You may see other homes in your neighborhood selling for top dollar and assume yours can do the same. But you may not be considering differences in size, condition, and features. For example, maybe that other house is waterfront or has a finished basement. To sum it up, Bankrate explains:

“How do you find that sweet spot of pricing for profit but not overpricing? The expertise of your agent can be truly valuable here. A knowledgeable agent will understand fair market value in your area, how much your house is worth and how much you might reasonably expect to get for it in the current market.”

An agent will do a comparative market analysis (CMA) to make sure your house is compared with truly similar properties to get an accurate look at how it should be priced.

Pricing High to Leave Room for Negotiation

Another common, yet misguided strategy is to price your house high on purpose, so you have more room to negotiate down during the sale. But this can backfire. A price that seems too high often deters potential buyers from even considering the home. So rather than leaving room for negotiation, what you’ll actually be doing is turning buyers away. U.S. News Real Estate explains:

“You want to sell your house for top dollar, but be realistic about the value of the property and how buyers will see it. If you’ve overpriced your home, chances are you’ll eventually need to lower the number, but the peak period of activity that a new listing experiences is already gone.”

An agent can help you set a fair price that attracts buyers and encourages more competitive offers.

Bottom Line

Overpricing your home can have serious consequences. A knowledgeable real estate agent brings an objective perspective, in-depth market knowledge, and a strategic approach to pricing.

Let’s connect so you can avoid making a pricing mistake that’ll cost you.

What Every Homeowner Should Know About Their Equity

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Curious about selling your home? Understanding how much equity you have is the first step to unlocking what you can afford when you move. And since home prices rose so much over the past few years, most people have much more equity than they may realize.

Here’s a deeper look at what you need to know if you’re ready to cash in on your investment and put your equity toward your next home.

Home Equity: What Is It and How Much Do You Have?

Home equity is the difference between how much your house is worth and how much you still owe on your mortgage. For example, if your house is worth $400,000 and you only owe $200,000 on your mortgage, your equity would be $200,000.

Recent data from the Census and ATTOM shows Americans have significant equity right now. In fact, more than two out of three homeowners have either completely paid off their mortgages (shown in green in the chart below) or have at least 50% equity in their homes (shown in blue in the chart below):

Today, more homeowners are getting a larger return on their homeownership investments when they sell. And if you have that much equity, it can be a powerful force to fuel your next move.

What You Should Do Next

If you’re thinking about selling your house, it’s important to know how much equity you have, as well as what that means for your home sale and your potential earnings. The best way to get a clear picture is to work with your agent, while also talking to a tax professional or financial advisor. A team of experts can help you understand your specific situation and guide you forward.

Bottom Line

Home prices have gone up, which means your equity probably has too. Let’s connect so you can find out how much you have in your home and move forward confidently when you sell.