Jul 12, 2025
July 11, 2025
Overview:
- The Realtor.com® economics team video update gives you the relevant economic and real estate information you need to know each week every Friday to navigate the housing market as a homebuyer, home seller, or industry professional.
- For the week ending July 11, Realtor.com® Chief Economist Danielle Hale discusses the latest labor market data and its impact on mortgage rates and home shopper sentiment as well as highlight the latest trends in the housing market for both this week and the month of June, including a surprising finding on delistings. I’ll also tell you where to find the hottest real estate markets in the country.
- You’ll find all the details including full reports and our housing data for download at realtor.com/research. You can also follow us on X (formerly twitter) for real time updates. And instagram @realtordotcomecon for graphics.
Reports and articles referenced:
- June 2025 Housing Trends Report
https://www.realtor.com/research/june-2025-data/ - June 2025 Housing Trends Report
https://www.realtor.com/research/june-2025-hottest-housing-markets/ - Weekly Housing Trends Report – July 5, 2025:
https://www.realtor.com/research/weekly-housing-trends-view-data-week-july-5-2025/ - Commentary on June 2025 Jobs Report:
https://www.realtor.com/research/june-2025-employment-report/ - Commentary on Mortgage Rates – July 10, 2025:
https://www.realtor.com/research/freddie-mac-mortgage-rates-july-10-2025/ - Commentary on June 2025 National Housing Survey:
https://www.realtor.com/research/june-2025-hpsi/
Housing data for download:
VIDEO TRANSCRIPT:
- I’m Danielle Hale, Chief Economist at Realtor.com®. This week, I’m going to review the latest labor market data and its impact on mortgage rates and home shopper sentiment as well as highlight the latest trends in the housing market for both this week and the month of June, including a surprising finding on delistings. I’ll also tell you where to find the hottest real estate markets in the country.
- Let’s start with the macro picture. In the face of concerns about the impact of trade policy on labor markets, June’s jobs report was better than expected. Employers added more jobs to payrolls and the unemployment rate edged lower. Wage growth cooled but continued to outpace inflation by a healthy margin.
- This result dropped already low expectations for a Fed rate cut in July and pushed mortgage rates higher for the first time in more than a month.
- Even before this week’s uptick, mortgage rates and job security were among the factors weighing on home purchase sentiment, which dropped back in June. Despite lingering concerns, this same survey showed that consumers recognize the housing market has made a buyer-friendly shift; the share saying it’s a good time to buy hit a 2-year high.
- In the Realtor.com June Housing Trends report, we see why consumers believe this. The number of homes on the market rose again for a 20th straight month to a new post-pandemic high helping to increase time on market and push the share of homes with price cuts higher.
We saw more newly listed homes compared to last year, but fewer than last month—a sign that sellers, too, perceive a less favorable market and may be pulling back. But not all sellers are capitulating and cutting prices, some are choosing to take down their listing without a sale. - Although the share of sellers making this choice remains small, the number of delisted homes surged by 47% in the year ending in May. How often sellers choose to play this remaining ‘trump-card’ will affect whether we tip from a ‘balanced’ to a buyer’s market, and if so, how quickly that happens.
- In the weekly data, we see a fair amount of continuity with recent trends. Of note, despite increases in price reductions, the median list price continued to edge higher.
- Nationally, housing market balance is shifting, but the reset is not happening at the same pace across markets. The Realtor.com June Hottest Housing Markets report shows that the Northeast and Midwest remain more competitive for buyers, with many of these markets seeing prices climb as buyers look for outright and relative affordability.
- You can find all the details, including full reports and our housing data for download, at realtor.com/research. You can also follow us on X (formerly twitter) for real time updates. And instagram for graphics.
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