It’s supposed to be the busiest time of the year for real estate — but instead, it’s crickets.
June existing home sales fell to a nine-month low, and one in seven potential deals fell through, according to new data from Redfin and the National Association of Realtors (NAR).
With 30-year mortgage rates around 6.67% at press time, and median home prices rising 2% from a year ago (now around $435,300), being a buyer is a tough draw in 2025. Daryl Fairweather, chief economist at Redfin, told the New York Times that buyers are staying on the sidelines.
Related: Barbara Corcoran Says the Best Entrepreneurs Are Good at This One Thing
“What it