Video Update

Full Report

The U.S. housing market is showing very different trends depending on where you live. In the Northeast and Midwest, homes are selling faster with tighter inventory, while in parts of the South and West, more homes are available, and buyers have more negotiating power.

Inventory & Prices

• Inventory is growing in many areas, especially in the South and West.

• Some markets are seeing slight price declines (3–4%), but that follows years of strong price gains—nationwide, home prices are still up 55% over the past five years.

• National inventory is still about 13% lower than pre-pandemic levels, which helps keep upward pressure on prices in many areas.

Mortgage Rates & Affordability

• Mortgage rates have been stable for months, hovering between 6.5% and 7% for a 30-year fixed loan.

• Rates may gradually dip over the next year, possibly touching the 5% range, but big drops are unlikely.

• Even a small decrease in rates can lower monthly payments and bring more buyers back into the market.

• Affordability is improving slowly as wages rise, price growth slows, and inventory increases.

What This Means for Buyers & Sellers

• Buyers: More options are available in certain regions, and stable rates mean you can plan with more confidence. Waiting for much lower rates could mean facing more competition later.

• Sellers: In many areas, especially where inventory is still low, demand remains strong. Pricing strategically is key as the market balances.
  
  

Bottom Line

The market is neither booming nor crashing—it’s adjusting. Whether buying or selling, knowing your local trends and understanding how rates and inventory affect you will help you make confident decisions. Here's a snapshot of the Tallahassee market: