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As we move through the second half of 2025, the real estate landscape continues to shift, shaped by mortgage rate volatility, persistent affordability challenges, and limited inventory. Here’s a comprehensive look at the market, backed by expert insights and local data, to help guide your next move.   Mortgage Rates Are Cooling and Could Pick Up Speed This Fall After peaking in late 2023, mortgage rates have been gradually easing, though they remain higher than many buyers had hoped. As of August 2025, the average 30-year fixed rate is 6.63%, the lowest since April. While most forecasters, including Fannie Mae and Goldman Sachs, expect rates to stay in the mid-6% range through year’s end, JPMorgan now projects the Federal Reserve could begin cutting interest rates in...

The housing market is beginning to return to a healthier, more balanced pace. According to the latest data, the number of homes for sale is gradually increasing and moving closer to normal levels.  See inventory graph below. Of course, inventory trends vary significantly by location. Below is a comparison of current single-family home inventory levels with the same period in previous years, so you can get a sense of how things are shifting locally.  See local inventory chart. Even with inventory reaching its highest point in six years, it’s important to look beyond the number of homes for sale. One of the most telling indicators of market conditions is Months Supply of Inventory (MSI). While higher inventory might suggest more choices for buyers, if buyer...