Homeowners’ ownership remains out of reach of many Americans as high levels of high homes and death death levels continue to increase about 7%.
The total number of unsold houses, including those under contract, increased 20% compared to the same time last year, according to the monthly market trend report of Realtor.com® June 2025.
According to economists with the Realtors® National Association, “a 30-year-old death with 6% fixed scale would make the home at affordable prices for about 5.5 million other families-including 1.6 million tenants.”
If a fixed rate of 30-year-old mortgage strikes 6%, about 10% of those additional households are likely to buy a home over the next 12 or 18 months, according to a NAR-this study is about 550,000 families.
“Many of my clients tell me the same thing: they want to buy, but they think death rates are keeping them,” says Alexe Morgado, a real estate agent and the founder of Lexawise, tells Realtor.com. “And it’s not just about the number itself. This feeling to pay more for the same thing is disappointing, discouraging and puts them on waiting.”
“The buyer’s activity was similarly limited a year when the norms were approximately the same as today,” says Hannah Jones, a senior economic research analyst on Realtor.com. “However, the buyer’s demand today seems even more oppressed, as the highest rates have become ‘new normal’, discouraging random buyers, who previously hoped that its rates would fall quickly. As a result, the inventory for sale has built, forcing the sellers to be more flexible in the attention of the price buyer.”
“Norms can be plunged into that project that builds a sweet place of 6% by 2026,” NAR predictors in the report say. This would push home sales by 14%. He identified the main meters that would benefit from a decrease in the mortgage rate. Atlanta, Dallas, Minneapolis, Cleveland and Kansas City, MO-KS, would be among the best markets seeing the largest rise in home sales if rates drop to 6%.
Here’s how the numbers accumulate in those metros for June:
Atlanta, Ga
- Average List Price: $ 421,000
- Average days on the market: 51
Cleveland, Oh
- Average List Price: $ 277,000
- Average days on the market: 37
Dallas, tx
- Average List Price: $ 440,000
- Average days on the market: 50
Kansas City, Mo-ks
- Average List Price: 409,475 Dollars
- Average days on the market: 45
Minneapolis, mn
- Average List Price: $ 447,900
- Average days on the market: 37
Anticipation
NAR economists say buyers waiting for lower mortgage rates may be missing. Housing inventories have grown throughout the country, which is giving buyers more opportunities and more shopping power.
Although home price peace has slowed down, they are still increasing, and NAR predicts that on national basis, list prices will rise about 1% this year before “accelerating a 4% project in 2026.”
“Through real estate, more Americans are gaining financial security,” said Nar Lawrence Yun. “The net worth of real estate is on solid soil, base at the low delinquency degree and even lower foreclosure rate conditions.”
For example, NAR found in Phoenix, homeowners earned an average of $ 320,860 in their capital for 10 years of ownership – non -owners of non -owners.
But if it’s the right time to buy it will depend on someone’s situation.
“I always tell people that the important thing is to enter the market with a strategy that feels realistic,” Morgue says. “See what you can afford without compromising your mind peace.”
course
Mortgage rates have been increasing for two weeks in a row. The average rate of a 30-year-old fixed home loan stands at 6.75% for the week ending on July 17, according to Freddie Mac. This is from 6.72% a week ago.
Increasing the rate has had an effect on people applying for a mortgage, as the home loan question fell by 10% for the week ending July 11, according to the death banks association. Economists say this was driven by concerns about the impact of tariffs on the economy.
This uncertainty on President Donald Trump’s fees has home builders growing back on projects, as supplies have become more expensive and buyers are not jumping to the ground as fast as in the past.
Moreover, inflation rises – the consumer price index increased by 2.7%, according to new data from the Bureau of Labor statistics.
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