07/22/2025
Home prices hit a new record in June. The median sold price in the Mid-Atlantic reached $449,600. But it’s not all sunshine, buyers are pulling back. High mortgage rates and ongoing economic uncertainty continue to slow demand.
Rates are expected to stay in the high-6% range through the summer. Listings are rising, but new inventory is still tight. Source: BrightMLS
HOUSING MARKET HEADLINES YOU SHOULDN’T MISS
House for sale sign
ENCOURAGING SIGNS FOR BUYERS: SELLERS EASE UP ON PRICES, PAYMENTS DROP
Sellers are finally adjusting to market conditions and cutting their asking price. At the same time, monthly mortgage payments dipped to a four-month low, offering a rare window of opportunity for budget-conscious buyers to re-enter the market. Source: Redfin News
AMERICANS ARE TORN ON HOW IMMIGRATION, TARIFFS IMPACT HOUSING AFFORDABILITY
According to a new Redfin survey, Americans are split on what’s driving housing costs. Many believe immigration increases demand, while others point to tariffs and labor shortages driving up construction costs. Either way, most agree: affordability isn’t improving anytime soon.
