The US housing market experienced its slowest spring in over 12 years, with signed contracts reaching a 13-year low, according to Bloomberg. Despite early signs of a rebound, economic uncertainty—fueled by tariffs, concerns about AI job displacement, and high mortgage rates—has kept buyers on the sidelines. Prices remain high due to limited inventory; however, in markets like Florida and Texas, oversupply is causing prices to drop. Meanwhile, the rental market is strengthening as affordability worsens, marking a grim outlook for home sales in 2025. They write:
The US housing market just logged its slowest spring season in more than a dozen years, leaving Glennda Baker, a veteran real estate agent in Atlanta, struggling to sell 21 listings.
She’s been slashing prices. But months of chatter about AI taking jobs and tariffs tanking the economy is feeding into buyer indecision.
“People say price solves everything,” Baker said. “But price doesn’t solve uncertainty.” […]
With consumer confidence ticking up and the stock market on a hot streak, the hope is deals that normally might have happened in the spring will get pushed into summer. But there’s likely to be only a small bump, according to Thomas Ryan, an economist at Capital Economics.
“The outlook for the housing market is dire,” he said. “Affordability is at its worst since the 1980s. Nothing has changed on that front. […]
“We’re seeing a lot more price decreases throughout Rhode Island now,” Sheil said. “Uncertainty scares some people.”
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