The Housing Market Hotness Index rose to 94.65 for the week ending March 23, 2025, indicating a gradual thawing of the housing market. However, activity remains below levels seen at the same time last year. Affordability challenges, driven by persistent high mortgage rates and modestly increasing home prices, are keeping many buyers out of the market. The current market conditions don’t reflect the typical vibrancy of the spring season.
Monroe County (NY), King County (WA), and Santa Clara County (CA) were the most active counties last week, while Florida markets continued to show sluggish activity.
*Index values are subject to revision as deemed necessary, contingent upon the receipt of new or updated data.
