The US housing market is experiencing a slight respite ahead of spring, with existing home sales increasing 4.2% from January, according to the National Association of Realtors’ report. However, this positivity comes amidst ongoing uncertainty due to tariffs, inflation, and interest rates.
While some regions, such as Florida’s condo market, are seeing increased listings, others like Portland, Oregon, and Syracuse, New York, are experiencing a frenzy of activity with limited inventory. Real estate agents from various locations share mixed views on the current state of the market.
Mike Frank at Keller Williams in Chicago notes that the shortage of inventory has created a good market for sellers, while Debbie Kallfelz with Coldwell Banker in Syracuse says prices are going up due to less inventory and multiple buyers competing. Israel Hill at John L. Scott in Portland notes the frenetic activity but also acknowledges that not all areas are experiencing such conditions.
In contrast, real estate agent Steve Scott in Charlotte, North Carolina, describes his market as slow despite incentives from builders. However, he observes a wave of new buyers moving to the area, primarily retirees from the north and south.
Meanwhile, Mollie Yarborough Steele at Compass Real Estate in Houston reports that she’s seeing affordable starter homes being built in the suburbs, which is attracting first-time homebuyers. The fiercest competition, however, lies in homes over $1 million, where cash offers are common.
As financial markets continue to fluctuate, it remains to be seen how this will impact the housing market and buyers’ readiness to make purchases.
Source: https://www.marketplace.org/2025/03/20/housing-market-depends-where-you-are-local-real-estate-agent-homebuying