The U.S. Housing Market Hotness Index edged down to 89.89 for the week ending December 14, 2025, from 90.11 the prior week, reflecting a market that continues to cool alongside the winter season. Overall, housing activity remains sluggish as hesitant buyers and reluctant sellers remain at odds. Elevated mortgage rates, still-high home prices, and lingering concerns about the economy and job security are keeping many buyers on the sidelines. At the same time, homeowners who locked in ultra-low rates years ago are unwilling to sell and take on higher borrowing costs. While inventory has improved modestly in some areas, affordability pressures continue to suppress sales momentum.
Regionally, the picture remains uneven. Parts of the Northeast and Midwest continue to stand out as some of the strongest markets in the country, buoyed by comparatively better affordability. In contrast, several markets across Florida and Texas remain among the weakest, where softer demand and rising inventory are slowing activity more noticeably.
*Index values are subject to revision as deemed necessary, contingent upon the receipt of new or updated data.
