Housing Market Hotness Index

The U.S. Housing Market Hotness Index slipped in January 2026 despite mortgage rates sitting 85 basis points below last year’s levels. Ongoing affordability pressures and limited seller participation continue to weigh on activity.

The U.S. Housing Market Hotness Index ended 2025 firmly in the cool zone, reflecting a year marked by high mortgage rates, elevated home prices, and constrained affordability. While parts of the Northeast and Midwest remained relatively strong, many Sun Belt markets struggled as earlier price gains left buyers priced out.

The housing market continues to lose momentum as buyers grapple with high borrowing costs and economic uncertainty, while sellers hesitate to give up low-rate mortgages. Although inventory has improved slightly in some areas, affordability remains a major hurdle.

The U.S. Housing Market Hotness Index ticked up to 90.11 in early December, but the market remains sluggish as high mortgage rates, economic uncertainty, and affordability pressures keep both buyers and sellers on the sidelines. While pockets of the Northeast and Midwest remain competitive, Florida and Texas continue to see some of the weakest housing activity in the nation.

The U.S. Housing Market Hotness Index dipped to 90.14 at the end of November, highlighting a market still frozen by affordability challenges and seller hesitation. While many regions remain sluggish, parts of the Northeast and Midwest continue to show strong demand and faster sales activity. Florida and Texas, however, remain among the softest markets in the country.

The Housing Market Hotness Index rose slightly to 91.20 for the week ending November 23, yet the market remains largely frozen as both buyers and sellers hold back. Stronger activity persists in parts of the Northeast and Midwest, while regions in Florida and Texas continue to cool under rising costs and weaker demand.

The Housing Market Hotness Index ticked up to 91.04 in mid-November, but the overall market remains sluggish as both buyers and sellers hesitate to act. Affordability barriers, high mortgage rates, and entrenched rate-lock continue to limit movement. Regional trends show strong activity in the Northeast and Midwest, while parts of Florida and Texas continue to cool.

The U.S. housing market continued to lose steam in late October, with the Housing Market Hotness Index slipping to 90.23. Even as mortgage rates fell to their lowest level in a year at 6.17%, uncertainty about jobs and the economy is holding back demand.

The U.S. housing market continued to lose steam in late October, with the Housing Market Hotness Index slipping to 90.23. Even as mortgage rates fell to their lowest level in a year at 6.17%, uncertainty about jobs and the economy is holding back demand.

The U.S. Housing Market Hotness Index held steady at 92.0 for the week ending October 19, 2025, suggesting a market in limbo. Even with mortgage rates falling to the low-6% range and a rallying stock market, affordability and economic uncertainty continue to hold back buyers.