Weekly Housing Trends View-Data for Week Ending March 15, 2025

Our research team releases monthly housing trends reports. These regular reports break down inventory metrics like the number of active listings and the pace of the market. In addition, we continue to give readers more timely weekly updates, an effort that began in response to the rapid changes in the economy and housing. Generally, you can look forward to a Weekly Housing Trends View and the latest weekly housing data on Thursdays and weekly video updates from our economists. Here’s what the housing market looked like over the past week.

What this week’s data means

The housing market trended as expected this week, with active and new listings climbing annually and prices holding steady annually. Prices were flat year over year for the first time since October as the housing market emerged from a slower-than-usual winter. The persistent housing supply gap means that despite recent progress, the home supply remains well below healthy levels, which has prevented home prices from falling more significantly.

As discussed in the recent Realtor.com® Monthly Housing Trends report, the recent rounds of federal layoffs have the potential to affect metro areas with the highest rates of federal employment. The impact of layoffs will likely trickle in over the coming weeks and months as recently unemployed workers find new jobs in new cities, or potentially look for more affordable housing options if their current mortgage becomes unaffordable. We are digging deeper to understand how local dynamics are playing out and will highlight any findings in the coming weeks.

Key national findings

• The median list price was flat year over year
  This marks the 42nd consecutive week that the national median home list price has either remained steady or declined compared with the same week last year. Importantly, the annual difference narrowed for the third consecutive week and prices measured flat year over year for the first time since last fall. Controlling for the size of the home, the median list price per square foot increased by 1.3% annually, suggesting there are more smaller homes on the market compared with last year. The share of homes with a price reduction increased by 0.8% this week, pointing to more seller adjustments in light of growing inventory and a slowing market pace.
• New listings—a measure of sellers putting homes up for sale—increased 10.4%
  Newly listed inventory grew for the 10th consecutive week, signaling that sellers are gaining confidence in listing their homes despite persistently high mortgage rates. This week’s annual growth picked up compared with last week. After years of 6% or higher mortgage rates, sellers seem to be taking advantage of the early spring reprieve in mortgage rates and listing their homes for sale. New listings tend to tick higher in the spring and into the summer, and sellers who can get out ahead of the competition may find more buyers during the Best Week To Sell.
• Active inventory increased, with for-sale homes 28.5% above year-ago levels
  The number of homes for sale has now been higher than the previous year for 71 consecutive weeks. This continued rise in active inventory is in part due to less active buyers. With more choices available, buyers can afford to be more selective, putting pressure on sellers to price competitively.
• Homes spent 4 days more on the market compared with this time last year
  Homes are taking longer to sell than the previous year, a trend that has persisted for 47 consecutive weeks. A slower market pace is good for buyers, as it allows for time to deliberate between the numerous for-sale options on the market.

National data summary: