The U.S. Housing Market Hotness Index held steady at 92.57 for the week ending September 21, 2025, barely changed from 92.29 the previous week. Despite a gradual easing in mortgage rates, the housing market remains largely stagnant. Many prospective buyers continue to stay on the sidelines, deterred by economic uncertainty, limited new supply, and persistently high home prices. Some are waiting in hopes of further declines in both interest rates and prices. On the selling side, homeowners are more inclined to pull their listings than negotiate on price.
Regionally, Erie County, NY, Monroe County, NY, and Kent County, MI ranked as the nation’s hottest markets, driven by tight inventory and faster sales. In contrast, Travis County, TX, Broward County, FL, and Bexar County, TX were the weakest, reflecting slower demand and longer time on market.
*Index values are subject to revision as deemed necessary, contingent upon the receipt of new or updated data.
