Little movement was seen in the Housing Market Hotness Index, holding steady at 95.92 for the week ending April 20, 2025, indicating a continuation of the slower pace despite the market being in the middle of the busiest season. Affordability remains a significant hurdle for buyers due to persistent high mortgage rates and home prices, which is further exacerbated by economic uncertainty. Consequently, despite rising inventory, sellers in some areas are facing difficulty finding buyers and are increasingly offering concessions and cutting prices to facilitate sales.
The hottest markets continue to be concentrated in areas like Erie and Monroe Counties (NY), Snohomish and King Counties (WA), and Santa Clara County (CA), while southern Florida exhibits the weakest demand.
*Index values are subject to revision as deemed necessary, contingent upon the receipt of new or updated data.
