Creditvana Housing Market Update: What Buyers and Sellers Need to Know
The housing market is shifting — more homes, less competition. Here’s Creditvana’s full breakdown on rates, prices, and whether now is the right time to buy.
How’s the housing market right now?
Inventory levels are at their highest since May 2020, giving buyers more options and leverage. This update covers:
- Mortgage rates
- Inflation and the economy
- Inventory
- Home prices
- Home sales
- Competition
Weekly Average Mortgage Rates
Rates dipped slightly this week, offering some relief for buyers.
| Mortgage Type | APR |
|---|---|
| 30-year fixed | 6.59% |
| 15-year fixed | 5.70% |
| 5-year adjustable | 7.06% |
Creditvana Tip: Shop rates from at least three lenders to save thousands over the life of your loan.
How Mortgage Rates Impact Your Buying Power
Higher rates shrink affordability. On a $350,000 home with 20% down, here’s how payments shift:
| Rate | Monthly Payment* |
|---|---|
| 5.5% | $1,590 |
| 6% | $1,679 |
| 6.5% | $1,770 |
| 7% | $1,863 |
| 7.5% | $1,958 |
*Principal & interest only, excludes insurance and taxes.
Inflation and the Economy
Economic uncertainty has buyers cautious. Consider:
- Pause: If your income feels shaky, waiting may be smart.
- Stay the course: If stable, don’t let headlines derail your plans.
The Federal Reserve is widely expected to cut rates in September due to easing inflation.
Buyer’s vs Seller’s Market
We’re in a moderate seller’s market, but balance is improving.
- More homes available
- Less competition
- Sellers willing to negotiate
Inventory: Highest in Five Years
Inventory rose over 15% year-over-year, reaching a 4.6-month supply, the most since May 2020. Buyers have more power to negotiate.
Home Prices: Growth Slowing
National median home price (July 2025): $422,400, up just 0.2% from last year.
- Midwest: $333,800 (+3.9%)
- Northeast: $509,300 (+0.8%)
- South: $367,400 (-0.6%)
- West: $620,700 (-1.4%)
Home Sales and Competition
- Sales up 2% in July
- Average offers per home: 2.1 (down from 2.7 last year)
- Only 21% of homes sold above list price
- Median days on market: 28 (vs. 24 last year)
Should You Buy Now or Wait?
The right time is when you’re financially and emotionally ready. Green flags:
- Stable income and job security
- Savings for down payment and closing costs
- Low debt-to-income ratio (36% or below)
- Good credit score (740+ preferred)
- Commitment to long-term ownership
Average buyer stats (last 30 days): FICO 736, DTI 40%.
