We’re officially halfway through the year and if you’ve been thinking about buying a home, you’re probably wondering: Should I wait, or should I act now?
The good news? More homes are hitting the market. The not-so-good news? Rates are still on the high side and affordability remains a challenge in many places.
Here’s your midyear housing pulse check and what it means for homebuyers heading into the second half of 2025.
What’s Happening in the Market Right Now
⚖️ Rates are holding steady, not dropping (yet)
- The Fed is signaling patience, so big rate drops aren’t expected until late summer or fall.
- The average 30-year fixed mortgage rate is hovering around 6.81%, a slight improvement from earlier in the spring.

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🏠 More homes are finally for sale
- After years of tight supply, home listings are up more than 25% compared to last year. That means buyers have more options and more negotiating power especially in competitive metro areas.
💰 Homeowners are staying put, but tapping equity
- Refinances are still low because many homeowners locked in historically low rates.
- However, many are using home equity loans and HELOCs (Home Equity Lines of Credit) to access cash without selling, a sign that more people are upgrading, not moving.
What This Means for Buyers
- Don’t expect huge rate relief just yet. Rates may come down slightly in the fall, but a dramatic drop isn’t guaranteed. If you find the right home, focus on what you can afford now and know you may be able to refinance later.
- More listings = more choices. With inventory building up, you’re more likely to find a home that checks your boxes. But with competition still strong in certain markets, it’s smart to be prepared and pre-approved.
- It’s a good time to ask questions. This market is complex. A good mortgage advisor can walk you through your options, including down payment assistance, rate buydowns, and alternative loan structures.
What’s Next?
If you’ve been waiting for the “right time” to buy, it might be closer than you think. Rates are still elevated, but more inventory means more chances to find the right home at the right price.
The key is being informed, flexible, and prepared. Whether you’re just starting your search or thinking about making a move this fall, now’s the time to connect with a mortgage advisor and run the numbers.