March 2025 Report

with market data through February

Market activity and demand as defined by new listings coming on market, listings going into contract, speed of sale, and overbidding rose across the board. In particular, the inventory of homes for sale surged much higher, a substantial change in market dynamics: It appears that the "mortgage lock-in" effect is continuing to fade as prospective home sellers decide to move forward with life plans.

As of the first week of March, the latest inflation reading ticked up for the 4th month; the Fed kept its benchmark rate unchanged; interest rates fell for the 7th week; and stock markets saw 2 weeks of significant declines. National and international politics continue to be characterized by constant and unpredictable change, and enormous uncertainty. And consumer confidence in February dropped across all age, income and wealth groups as expectations for personal finances and both short-term and long-term economic conditions all declined (per the University of Michigan's February "Surveys of Consumers").

We are now moving into the spring selling season, typically the most heated of the year, and not unusually seeing the calendar year's highest median home sales prices.

Report created in good faith using data from sources deemed reliable but may contain errors and subject to revision. Last period figures are preliminary estimates based on data available in early February. All numbers approximate, and may change with late-reported activity.