New listings data
Exciting news in the real estate market as new listings data for 2025 has shown consistent growth year over year, reaching the minimum target of 80,000 during the peak season. However, there has been a slight decline in listings this week compared to the previous week, highlighting the need for more growth in the coming weeks.
Looking back at the housing bubble crash, where listings soared between 250,000 and 400,000 per week, the current numbers of 76,181 in 2025 and 71,666 in 2024 show a more stable market environment.
Weekly housing inventory data
Active inventory levels are gradually approaching pre-pandemic levels, with some states already surpassing them. Despite slow growth in inventory this week, overall progress in 2025 has been positive compared to the low levels of 2020-2022.
- Weekly inventory change (June 13-June 30): Inventory rose from 825,761 to 828,890
- The same week last year (June 14-June 21): Inventory rose from 620,622 to 634,120
Price-cut percentage
About one-third of homes typically experience price reductions in a dynamic housing market. Current forecasts suggest a modest increase in home prices for 2025, with an emphasis on cautious growth due to increased price reductions seen this year compared to last year.
Purchase application data
Impressively, purchase application data has shown 20 consecutive weeks of year-over-year growth in 2025 despite mortgage rates hovering near 7%. This trend reflects strong demand in the market, defying expectations.
Weekly pending sales
Weekly pending home sales have shown year-over-year growth, indicating positive momentum in the market. Last week’s data reflects this trend with an increase in pending sales compared to the previous year.
Total pending sales
Insights from total pending sales data offer valuable information on current housing demand trends. Despite slightly higher sales than last year, the data shows a steady market performance despite elevated rates in 2025.
10-year yield and mortgage rates
Anticipated ranges for mortgage rates and the 10-year yield in 2025 have remained stable despite recent market events. Mortgage rates saw a slight decrease last week, indicating a relatively calm market environment.
Mortgage spreads
Mortgage spreads have improved since their peak in 2023, contributing to more stable mortgage rates. The current range of spreads reflects a healthier market environment compared to previous years.
The week ahead: Home sales, home price data and Fed speeches
Upcoming data releases on existing and new home sales, home prices, and jobless claims will provide valuable insights into the market’s current status. Additionally, speeches from Fed presidents will be monitored to gauge their impact on the market.