The Housing Market Hotness Index declined to 95.65 for the week ending June 15, 2025, down from 96.08 the previous week. The market remains in a prolonged slump, driven by weak buyer demand and limited price adjustments from sellers. Despite growing inventory in many areas, affordability challenges—stemming from high mortgage rates and elevated home prices—are keeping buyers on the sidelines. At the same time, many sellers are hesitant to lower their asking prices, creating a persistent market standoff.
This week’s most competitive markets were concentrated in the Northeast and Midwest, including Kent County (MI), Monroe County (NY), Erie County (NY), Providence County (RI), and Oakland County (MI). In contrast, Florida and Texas markets continue to underperform, weighed down by rising inventory and tepid buyer activity.
*Index values are subject to revision as deemed necessary, contingent upon the receipt of new or updated data.
