The spring housing market is in full swing, and while headlines may be filled with uncertainty about interest rates and inventory, savvy buyers could find this season to be full of opportunity. Despite higher mortgage rates and a complex economic backdrop, there are several key indicators suggesting that the spring of 2025 could be an ideal time to find a great deal on a home.
The Market is Active—But Not Overheated
Pending home sales have recently seen a modest uptick, reaching the highest weekly total since last August. While overall sales are still slightly behind last year, this increase signals that more buyers are beginning to re-engage with the market. However, the competition isn’t as fierce as in previous years—making this a potentially less stressful time for buyers to jump in.
Mortgage Rates Are Trending Down
One of the most encouraging signs for buyers right now is the recent drop in mortgage rates. As of early April, the average rate for a 30-year fixed mortgage is hovering around 6.6%—the lowest level seen in 2025 so far. Lower rates translate to more affordable monthly payments, offering buyers more breathing room in their budgets. If this trend continues, buyer activity is expected to pick up, which means acting sooner could help buyers avoid increased competition later in the season.
Hidden Deals: Where to Look
One of the strongest signals of buyer opportunity is the spike in withdrawn listings. Over 20,000 homes were pulled off the market nationwide in just one week. Many of these will likely return—this time with sellers who are more motivated and more open to negotiation.
Another sign? Price reductions. Roughly one-third of homes currently on the market have lowered their prices. This trend highlights a shift in seller expectations, opening the door for buyers to step in and negotiate more favorable terms before other buyers catch on.
Prices Are Stable, Inventory is Growing
While home prices are technically up about 2.6% compared to last year, the pace of growth has softened. Inventory has increased by 28% year-over-year, and new listings are expected to continue climbing through April and May. In fact, some markets are approaching pre-pandemic inventory levels—a sign that things may be shifting back toward a more balanced, buyer-friendly environment.
More inventory means more options and less pressure to make quick decisions. This additional breathing room can be key when looking for homes that fit both lifestyle and budget.
Negotiation is Back
After years of fierce competition and bidding wars, buyers are beginning to regain some leverage. Homes that are priced too high are sitting longer, while those that are priced competitively—or have already had a price cut—are still selling. For buyers, this means an opportunity to negotiate not just on price, but potentially on closing costs and repairs as well.
Tips for Buyers This Spring
Buyers who want to take advantage of these conditions should consider the following strategies:
- Get pre-approved now while mortgage rates are still relatively low.
- Focus on homes that have been on the market for 30+ days, as these sellers may be more open to negotiation.
- Track price reductions and act quickly when a property you like drops in price.
- Don’t be afraid to offer below asking, especially if showings are slow or interest is low.
- Work with a local expert who understands how to spot value and negotiate effectively in today’s shifting market.
In markets like Portland and Vancouver, similar trends are emerging: inventory is building, homes are sitting longer, and buyers who are ready to act are securing great deals.
While the perfect deal doesn’t appear every day, the right strategy and timing can go a long way this spring. Buyers who stay informed, remain flexible, and work with the right guidance may find this season to be one of the best opportunities in recent years.