Housing Market Holds Steady as Summer Heats Up

Despite higher mortgage rates and ongoing affordability challenges, the housing market continues to show signs of stability. May’s existing home sales came in at 4.03 million (annualized), a slight dip from last year—but consistent with what we’ve seen for nearly two years. Inventory remains tight, and demand hasn’t gone away—buyers are simply being more selective and strategic.

Mortgage rates have drifted lower over the past few weeks—down about 0.2%—but still sit well above the historic lows many buyers were used to. With inflation still running hot and the Federal Reserve divided on next steps, rate volatility could continue into the fall. Some Fed officials are calling for rate cuts as soon as July, while others favor holding steady, leaving borrowers in a wait-and-see environment.

The good news? Opportunities are still out there. Many buyers are adapting with creative financing, builder incentives, and a clearer understanding of their budget. Sellers who price realistically and work with strong agent teams are still seeing good activity. The market may not be “easy,” but it is active—and guidance matters more than ever.

Whether you’re exploring options yourself or helping clients navigate their path to homeownership, we’re here with flexible mortgage strategies, competitive lock options, and tools to help make the numbers work.