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From Frenzy to Breathing Room
If you tried to buy a home a few years ago, you probably still remember the frenzy. Homes were listed one day and gone the next. Sometimes it only took hours. You had to drop everything to go and see the house, and if you hesitated even slightly, someone else swooped in and bought it – sometimes even sight unseen.
That kind of intensity pushed a lot of buyers to the sidelines. It was stressful, chaotic, and for many, really discouraging.
But here’s what you need to know: those days are behind us.
Today’s market is moving slower, in the best possible way. And that’s creating more opportunity for buyers who felt shut out in recent years.
The Stat That Changes Everything
According to the latest data, homes are spending an average of 58 days on the market. That’s much more normal. And it’s a big improvement compared to the height of the pandemic, when homes were flying off the shelves in a matter of days (see graph below):
That means you now have more time to make decisions than you have at any point in the past five years. And that’s a big deal. Now, you’ve got:
Time to think.
Time to negotiate.
Time to make a smart move without all the pressure.
More Time Means Less Stress (and More Leverage)
Based on the data in the graph above, you have an extra week to decide compared to last year. And nearly double the time you would have had at the market’s peak.
Back then, fear of missing out drove buyers to act fast, sometimes too fast. Today, the pace is slower, which means you’re in control. As Bankrate puts it:
“For years, buyers have been racing to snag homes because of the fierce competition. But the market’s cooled off a bit now, and that gives buyers some breathing room. Homes are staying listed longer, so buyers can slow down, weigh their options and make more confident decisions.”
With more homes on the market and fewer buyers racing to grab them, the balance has shifted. Bidding wars aren’t as common, and that means you may have room to negotiate. And you can actually take a breath before you make your decision.
More listings + a slower pace = less stress and more opportunity
But, and this is important, it still depends on where you’re buying. Nationally, homes are moving slower. But your local market sets your real pace. Some states are moving faster than others. It may even vary down to the specific zip code or neighborhood you’re looking at. And that’s why working with an agent to know what’s happening in your area is more important than ever.
To see how your state compares to the national average (58 days), check out the map below:
As Realtor.com explains:
“While national headlines might suggest a buyer’s market is taking hold, the reality on the ground depends heavily on where and what you’re trying to buy. Local trends can diverge sharply from national averages, especially when you factor in price range, property type, and post-pandemic market dynamics.”
A smart local agent can tell you exactly when to move fast and when you can take your time, so you never miss the right home for you.
Bottom Line
If the chaos of the past few years drove you to hit pause, this is your green light. The market’s pace has shifted. You have more time. More options. More power.
And with the right agent guiding you, you’re in the best position you’ve been in for years.
Let’s talk about what the pace looks like in our area, and if now could be the right time for you to re-enter the market.
Mortgage Rates Remain Flat
Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing the 30-year fixed-rate mortgage (FRM) averaged 6.58%.
“The 30-year fixed-rate mortgage remained flat this week,” said Sam Khater, Freddie Mac’s Chief Economist. “Over the summer, rates have come down and purchase applications are outpacing 2024, though a number of homebuyers continue waiting on the sideline for rates to further decrease.”
- The 30-year FRM averaged 6.58% as of August 21, 2025, unchanged from last week. A year ago at this time, the 30-year FRM averaged 6.46%.
- The 15-year FRM averaged 5.69%, down slightly from last week when it averaged 5.71%. A year ago at this time, the 15-year FRM averaged 5.62%.
The PMMS® is focused on conventional, conforming, fully amortizing home purchase loans for borrowers who put 20% down and have excellent credit.
Another Week Of Decline in 30-Year Mortgage Rate
Freddie Mac today released the results of its Primary Mortgage Market Survey® (PMMS®), showing the 30-year fixed-rate mortgage (FRM) averaged 6.58%.
“Mortgage rates fell to their lowest level since October,” said Sam Khater, Freddie Mac’s Chief Economist. “Purchase application activity is improving as borrowers take advantage of the decline in mortgage rates.”
- The 30-year FRM averaged 6.58% as of August 14, 2025, down from last week when it averaged 6.63%. A year ago at this time, the 30-year FRM averaged 6.49%.
- The 15-year FRM averaged 5.71%, down from last week when it averaged 5.75%. A year ago at this time, the 15-year FRM averaged 5.66%.
The PMMS® is focused on conventional, conforming, fully amortizing home purchase loans for borrowers who put 20% down and have excellent credit.
30-Year Mortgage Rates Lowest Since April
Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing the 30-year fixed-rate mortgage (FRM) averaged 6.63%.
“The 30-year fixed-rate mortgage dropped to its lowest level since April,” said Sam Khater, Freddie Mac’s Chief Economist. “The decline in rates increases prospective homebuyers’ purchasing power and our research shows that buyers can save thousands by getting quotes from a few different lenders.”
- The 30-year FRM averaged 6.63% as of August 7, 2025, down from last week when it averaged 6.72%. A year ago at this time, the 30-year FRM averaged 6.47%.
- The 15-year FRM averaged 5.75%, down from last week when it averaged 5.85%. A year ago at this time, the 15-year FRM averaged 5.63%.
The PMMS® is focused on conventional, conforming, fully amortizing home purchase loans for borrowers who put 20% down and have excellent credit.
Buying New Today
The Truth About Down Payments (It’s Not What You Think)
Buying a home is exciting… until you start thinking about the down payment. That’s when the worry can set in.
“I’ll never save enough.”
“I need a small fortune just to get started.”
“I guess I’ll just rent forever.”
Sound familiar? You’re not alone. And you’re definitely not out of luck.
Here’s the thing: a lot of what you’ve heard about down payments just isn’t true. And once you know the facts, you might realize you’re a lot closer to owning a home than you think.
Let’s break it all down and bust some big down payment myths while we’re at it.
Myth 1: “I need to come up with a big down payment.”
This one stops a lot of people in their tracks. A recent poll from Morning Consult and NeighborWorks shows 70% of Americans think they need to put at least 10% down to buy a home. And 11% aren’t sure what’s required at all (see graph below):
The truth? According to the National Association of Realtors (NAR), the typical down payment for first-time buyers has been between 6% and 9% since 2018. But there’s more to the story. If you qualify for an FHA loan, you may only need to put 3.5% down. And VA loans typically don’t require a down payment at all. So, there are options out there that can really make a difference for some buyers.
Myth 2: “It’ll take forever to save up for a down payment.”
Sure, saving can take time. But it may not have to be as long as you think. In many states, reaching your goal can happen faster than you might expect, especially when you know your budget and have a clear savings plan.
According to a new study, the amount of time varies depending on where you live. The map below shows, on average, how many years it takes to save up for a 10% down payment based on typical home values and income levels in each state (see map below):
But remember, in most cases you won’t even need a down payment as large as 10%. Plus, no matter how much money you end up putting down, it won’t all have to come out of your pocket. Here’s why.
Myth 3: “I have to do it all on my own.”
This is one of the biggest myths of all. The reality is, there are thousands of down payment assistance programs out there, and the same poll from Morning Consult and NeighborWorks shows 39% of people don’t even know about them. That means a lot of potential homebuyers could already be closer to homeownership – they just don’t realize it.
These assistance programs are designed to help people like you who are ready to own a home but just need a little support getting started. As Miki Adams, President at CBC Mortgage Agency, explains:
“With high interest rates and soaring home prices, down payment assistance is more essential than ever.”
Bottom Line
If you’ve been putting off buying a home because the down payment feels like too much to tackle, let’s talk. You may not need as much as you think, and there are plenty of resources out there, so you don’t have to do it alone. You just need an expert to point you in the right direction.
If a down payment wasn’t holding you back, would you be ready to start your home search?
The Tale of Two Markets
Depending on where you live, the housing market could feel red-hot or strangely quiet right now. The truth is, local markets are starting to move in different directions. In some places, buyers are calling the shots. In others, sellers still hold the power. It’s a tale of two markets.
What’s a Buyer’s Market vs. a Seller’s Market?
In a buyer’s market, there are more homes for sale and not as many buyers. That means homes sit longer, buyers have more negotiating power, and prices tend to soften as a result. It’s simple supply and demand.
On the flip side, a seller’s market happens when there aren’t enough homes available for the number of people looking to buy them. Because buyers have to compete with each other to get the house they want, that leads to faster sales, multiple offers, and rising prices.
Right now, both of these scenarios are playing out, depending on where you are. So, how do you know what kind of market you’re in? Lean on a local real estate agent. They’ll explain what’s really happening in your area based on these key drivers.
The Number of Buyers and Sellers by Region
One of the biggest factors impacting each market is the number of active buyers and sellers. According to Redfin, here’s what that looks like by region (see graph below):
Today, the Northeast and Midwest are more likely to be seller’s markets. Buyers still outnumber sellers there, and that keeps things tilted in favor of homeowners. Generally speaking, homes are selling faster and prices are rising in those areas.
But the South and West are leaning more toward buyer’s markets. There are more sellers than buyers, which means more listings to choose from and less competition among buyers.
That’s a major shift from a few years ago when sellers had the advantage almost everywhere. Today, your local conditions matter more than ever – and they can vary even from one neighborhood to the next.
Price Trends Mirror the Buyer/Seller Divide
When inventory and buyer activity shift, so do prices. In places where demand still outpaces supply, like much of the Northeast and Midwest, prices are continuing to climb.
But in parts of the South and West where inventory is up and demand has cooled, prices are softening. And that’s a plus for buyers looking to negotiate in those areas.
Here’s the latest price data from ResiClub to show how this divide is shaking out across the top metros in the country (see graph below):
This is why it’s the tale of two markets. Roughly half of the top 50 metros are up, and half are relatively flat or down.
That said, don’t panic if you own a home in a market where prices are dipping. Most homeowners have built up significant equity over the past few years, and chances are you have too. So, you’re likely still come out way ahead when you sell.
Why Local Insights Matter
Even in regions that lean more buyer-friendly right now, there will be cities, towns, and even neighborhoods that don’t follow the regional trends. That’s why an agent’s local market expertise is so important. They can help you understand what’s happening all the way down to a zip code level, including:
- Whether your area is favoring buyers or sellers
- How to set the right price or craft an offer strategy based on local trends
- The best way to make your move happen, no matter what’s happening in the market
Bottom Line
In a market where conditions vary this much from place to place, success starts with understanding every aspect of your local area. Let’s connect so you’ve got an expert in your corner who knows exactly how to guide you through your market, wherever you are.
The Latest Mortgage Rate Forecasts
If you’re tempted to wait for rates to come down before you buy a home, here’s what you should know. Based on expert forecasts, mortgage rates are expected to stay in the 6s this year. Let’s talk about what this means for your move and how to factor this into your plans.
