The Housing Market Hotness Index climbed again, reaching 93.22 for the week ending March 9, 2025, indicating a continued thaw from the winter slowdown. With the 30-year fixed mortgage rate holding steady around 6.6% for the past two weeks, neither buyers nor sellers are experiencing additional boost from that source. While spring typically marks peak activity in the housing market, it remains relatively subdued this year, influenced not only by high prices and interest rates but also by growing economic uncertainty. Further, unlike 2023 and 2024, when the Hotness Index transitioned from the cool to the stable zone in February, this shift has not yet occurred in 2025. Additionally, inventory levels are increasing and properties are remaining on the market for longer durations.
This week, Monroe County (NY), Santa Clara County (CA), and King County (WA) led the nation in market activity, while several markets in Florida continue to experience the slowest activity in the country.
*Index values are subject to revision as deemed necessary, contingent upon the receipt of new or updated data.
