Real Talk: The Market Has Changed
A look at where we’ve been, where we are, and what that means for you.
Let’s be real: since March 2020, the housing market has been on a bender. A global pandemic, the rise of remote work, and the sudden realization that your home had to be everything (office, gym, classroom, wine bar, etc.) meant demand went through the roof (pun fully intended).
Then came unicorn interest rates, those once-in-a-generation numbers that made monthly payments feel almost suspiciously low. Buyers flooded in, ready to pounce. But sellers? They pulled back. Whether from uncertainty, logistics, or just not wanting strangers in their home mid-pandemic, listings dried up. Cue the supply crunch.
So what happened next?
A full-blown frenzy. Prices skyrocketed. Bidding wars broke out over homes that wouldn’t have turned heads five years ago. It was chaotic, historic, and honestly unsustainable. Enter the Fed.
When rates doubled in under six months, the whole vibe shifted. Fast. We ended up with two years of the lowest home sales since the Clinton administration. No, really. And that brings us to now: a wobbly, weird, wait-what’s-happening kind of market. But underneath the noise? A few clear trends are emerging.
What’s Actually Happening as of Spring 2025:
In January, homes sold for 1.8% below asking on average.
→ TLDR: buyers are negotiating again. Paying full price is no longer the norm.Homes are sitting longer, about 56 days on market, the slowest pace in nearly five years.
→ No more “listed Thursday, 15 offers by Monday” madness.Inventory is finally up. April saw a 30.6% increase in active listings compared to last year.
→ We’ve been begging for more homes since 2020. They’re showing up.Price cuts are rising. 18% of homes reduced their price in April, the most we’ve seen in almost a decade.
So… yeah. The rocket ship isn’t launching anymore. But we’re not crashing either. We’re just hovering… adjusting. The chaos is calming, and in its place? A market that (dare I say it) feels… kinda balanced.
My Take?
Sellers: This is not the moment to shoot for the moon with your price. That “just because” pricing power? It’s on pause. But here’s the good news: you’re still in an amazing position. Think of it like buying a stock at $100, watching it peak at $1,000, and now selling it at $900. You didn’t lose anything. You're still way up.
Buyers: Look, I get it. 7% rates aren’t cute. But those higher rates? They’re the only reason you’re not in a bidding war with 18 other offers and having to waive every protection. If you find the right home, go for it. Pay the price, get the house, and plan to refi later. This is a two-part play: buy the asset now, fix the financing when the time’s right.
As always, I’m here to help you navigate what’s real, what’s noise, and what makes sense for you. Whether you’re thinking of selling, buying, or just trying to time it all right let’s talk. There’s no one-size-fits-all strategy here, and I’d love to help you figure out yours.
XO - Gee
