National Market

Seasonally Adjusted

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Buyers

Market

3/937

Hot Market

Bargain

Affordability

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+3.2%

+6.2%

+4.2%

-1.8%

+5.1%

+3.4%

-0.5%

+2.7%

+0.7%

+1.1%

+1.5%

+1.6%

+1.9%

+3.8%

+0.9%

-1.2%

+2.1%

+1.8%

+4.1%

+4.5%

+2.8%

+2.3%

-2.1%

+2.4%

Median Sale Price

National market trends

Market Insights

National market highlights

50% of FHA loans have a PMI of 42% or more
Mortgage applications increased 5.3% last week
New construction permits up 2.1% month-over-month
Refinance activity down 7% as rates hold steady
Median days on market increased by 4 days in Q1
First-time homebuyers represent 31% of all purchases
Investor purchases declined 3.2% year-over-year

Hottest Markets

AustinTX

12.5% YoY

NashvilleTN

10.2% YoY

BoiseID

15.7% YoY

RaleighNC

9.8% YoY

TampaFL

11.3% YoY

CharlestonSC

9.5% YoY

DallasTX

8.7% YoY

Salt Lake CityUT

10.5% YoY

CharlotteNC

7.9% YoY

JacksonvilleFL

9.1% YoY

PhoenixAZ

8.3% YoY

AtlantaGA

7.6% YoY

GreenvilleSC

8.9% YoY

ColumbusOH

7.2% YoY

HuntsvilleAL

9.4% YoY

KnoxvilleTN

8.1% YoY

TucsonAZ

7.5% YoY

San AntonioTX

6.8% YoY

SpokaneWA

8.7% YoY

RichmondVA

6.5% YoY

OmahaNE

5.9% YoY

BozemanMT

9.8% YoY

ChattanoogaTN

7.3% YoY

Colorado SpringsCO

6.7% YoY

IndianapolisIN

5.5% YoY

Coldest Markets

San FranciscoCA

8.3% YoY

New YorkNY

6.7% YoY

SeattleWA

5.2% YoY

Los AngelesCA

4.8% YoY

ChicagoIL

3.5% YoY

BostonMA

3.2% YoY

WashingtonDC

2.9% YoY

PortlandOR

3.8% YoY

San DiegoCA

2.5% YoY

MinneapolisMN

2.3% YoY

PhiladelphiaPA

2.1% YoY

San JoseCA

3.4% YoY

DenverCO

1.9% YoY

BaltimoreMD

1.7% YoY

DetroitMI

1.5% YoY

SacramentoCA

1.8% YoY

MilwaukeeWI

1.3% YoY

ClevelandOH

1.2% YoY

PittsburghPA

1.1% YoY

St. LouisMO

1% YoY

HartfordCT

0.9% YoY

ProvidenceRI

0.8% YoY

BuffaloNY

0.7% YoY

New OrleansLA

0.6% YoY

CincinnatiOH

0.5% YoY

1Y Projected Hot Markets

CharlotteNC

+27.5%

18.2% Projected Growth

PhoenixAZ

+25.8%

16.5% Projected Growth

ColumbusOH

+24.3%

15.1% Projected Growth

AtlantaGA

+23.7%

14.8% Projected Growth

DenverCO

+22.9%

13.5% Projected Growth

RaleighNC

+22.1%

13.2% Projected Growth

NashvilleTN

+21.5%

12.8% Projected Growth

AustinTX

+20.9%

12.3% Projected Growth

TampaFL

+20.2%

11.9% Projected Growth

DallasTX

+19.6%

11.5% Projected Growth

Salt Lake CityUT

+19.1%

11.2% Projected Growth

JacksonvilleFL

+18.7%

10.8% Projected Growth

BoiseID

+18.2%

10.5% Projected Growth

San AntonioTX

+17.8%

10.1% Projected Growth

GreenvilleSC

+17.3%

9.8% Projected Growth

HuntsvilleAL

+16.9%

9.5% Projected Growth

OrlandoFL

+16.5%

9.2% Projected Growth

CharlestonSC

+16.1%

8.9% Projected Growth

TucsonAZ

+15.7%

8.6% Projected Growth

RichmondVA

+15.3%

8.3% Projected Growth

SpokaneWA

+14.9%

8% Projected Growth

BozemanMT

+14.5%

7.7% Projected Growth

ChattanoogaTN

+14.1%

7.4% Projected Growth

Colorado SpringsCO

+13.7%

7.1% Projected Growth

IndianapolisIN

+13.3%

6.8% Projected Growth

Buy vs Rent Analysis

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Key Market Insights

Mortgage rates have decreased by 0.25% over the past month, improving affordability for potential buyers.
Interest Rates
Housing inventory has increased 5.8% year-over-year, giving buyers more options in most markets.
Supply
First-time homebuyer demand remains strong in the $250K-350K price range despite market challenges.
Demand
Remote work migration continues to fuel growth in mid-sized cities, particularly in the Southeast.
Demographics
Institutional investors are reducing acquisitions by 12.3% compared to last year, especially in previously hot markets.
Investment
New construction has increased 7.2% quarter-over-quarter, primarily focused on multi-family developments.
Construction

Absorption Rate

3.2months

4-6

Last 6 months

Price Band Breakdown

<$300k15%

$300-600k35%

$600-900k30%

$900k+20%

Local Affordability Index

5.2

Price-to-Income Ratio

Less Affordable

035710

Current

National Avg: 4.5

Very Affordable

Moderately Affordable

Less Affordable

Unaffordable

Sale Price by Bedrooms

1 BR

+3.2% YoY

2 BR

+4.5% YoY

3 BR

+5.8% YoY

4 BR

+6.2% YoY

5+ BR

+7.5% YoY

Sale Price by Bedrooms

1 BR

+3.2% YoY

2 BR

+4.5% YoY

3 BR

+5.8% YoY

4 BR

+6.2% YoY

5+ BR

+7.5% YoY

Asking Price vs. Sold Price

How much do homes in National market cost?

Over Asking Price

20 Homes

At Asking Price

9 Homes

Under Asking Price

21 Homes

Insight

If you're buying a home in the National market, you may be able to get a good deal. 42% of homes here sold below asking price last month.

Summary:

A total of 50 homes were sold or pending in the National market in March 2025, up by 47% month-over-month. Of the 50 sold homes, 42% were sold under asking, 18% were sold at asking, and 40% were sold over asking.

Region	Median Sale Price	Homes Sold	Inventory	Days on Market	Price/ft²	Market Type	Hotness	Tags	Projected 1Y	Projected 5Y
San Francisco	$1,250,000	423	892	28	$989	Buyers	3/937	Tech Hub Expensive	+2.3%	+15.8%
Austin	$550,000	892	1,543	15	$325	Sellers	1/937	Fast Growing High Demand	+8.5%	+42.3%
Miami	$475,000	678	1,234	22	$298	Sellers	2/937	Investor Opportunity	+6.7%	+38.2%
Denver	$625,000	534	987	19	$378	Balanced	8/937	Steady Growth	+4.2%	+28.5%
Nashville	$425,000	745	1,432	12	$255	Sellers	4/937	Rising Market Music City	+7.8%	+45.2%
Seattle	$875,000	489	756	25	$534	Buyers	12/937	Tech Corridor Price Drop	-2.1%	+18.4%
Phoenix	$395,000	867	2,134	35	$212	Buyers	25/937	Bargain Over Supply	+1.2%	+22.7%
Boston	$825,000	456	678	18	$623	Balanced	6/937	Education Hub Historic	+3.9%	+25.6%
Chicago	$375,000	1,234	2,876	45	$198	Buyers	45/937	Long Term Potential	+0.8%	+15.3%
Portland	$585,000	567	945	28	$345	Balanced	15/937	Lifestyle Premium	+2.8%	+24.1%