As spring winds down and June approaches, we typically anticipate a familiar surge in housing market activity across the United States. This seasonal trend is especially pronounced in regions like the Midwest, where warmer weather traditionally brings buyers and sellers out in force. But this year, something feels different. The energy we expect to accompany spring’s closing weeks has been muted. The 2025 spring market, it seems, is stalling.

So, What’s Different This Time Around?

There are a number of likely culprits behind this pause. Mortgage interest rates, while slightly lower than last year, are still hovering in the high 6% range—making monthly payments a challenge for many would-be buyers. Combined with lingering concerns over global trade tensions and general market conditions, both buyers and sellers appear to be proceeding with caution.

Let’s Talk Stats:

This caution is reflected in national data. According to the National Association of REALTORS® (NAR), existing-home sales dropped by 0.5% in April, totaling a seasonally adjusted annual rate of 4 million homes—a 2.0% decline compared to April 2024. While these figures aren’t catastrophic, they do suggest a cooling from the more aggressive pace we saw last spring.

Regionally, the story is mixed. In the Midwest, sales actually rose slightly by 2.1% month-over-month, though they’re still down 1.0% compared to last year. The median home price in this region climbed to $313,300—a 3.6% increase, suggesting that demand hasn’t vanished, but is perhaps more measured. In contrast, sales in the West declined 3.9% from March.

Yet, within this slowdown, there are glimmers of opportunity. Inventory is growing—a crucial signal for future momentum. The number of unsold existing homes jumped 9.0% from March to April, now sitting at 1.45 million units. More listings mean more choices, and more choices may nudge hesitant buyers off the fence.

Consumer attitudes are also evolving. We’re seeing increased willingness among sellers to embrace strategic price reductions. Buyers, in turn, are responding to those reductions and showing renewed interest in properties they might have previously dismissed. First-time homebuyers are stepping back into the market as well, accounting for 34% of April’s purchases—an encouraging uptick from earlier this year.

Optimism is bubbling in some corners of the industry. There’s talk that the second half of 2025 could bring a notable rebound, especially if mortgage rates stabilize or even soften. NAR projects total existing-home sales to reach 4.5 million by year’s end, with the national median price expected to hover around $410,700.

Of course, time will tell. But whether that optimism materializes into a midyear boom or not, one thing remains clear: preparation matters. In today’s uncertain environment, the professionals who stay engaged—those who nurture their networks, prospect consistently, and understand the shifting behaviors of both buyers and sellers—will be best positioned for success.

So, while this spring may not be delivering the surge we expected, it’s far from a lost season. It’s a moment of reset—a chance to watch the signals, adjust strategies, and get ready for what’s next.

That’s all for now,

Dan