April 2025 Real Estate Market Update: Navigating a Shifting Landscape

As we move into the heart of the spring 2025 housing season, both national and local real estate markets are experiencing notable shifts. Increased inventory levels, fluctuating mortgage rates, and evolving economic policies are influencing buyer and seller behaviors across the country. Let's delve into the current trends shaping the housing market.​

🏡 National Housing Market Overview

Inventory Levels on the Rise

After years of constrained supply, the national housing market is witnessing a significant uptick in inventory. As of early 2025, active listings have increased by approximately 27% compared to the previous year, providing buyers with more options and potentially easing competition. mortgagetech.ice.com​

Mortgage Rates: A Slight Decline

Mortgage rates, while still elevated, have shown a modest decline. The average 30-year fixed-rate mortgage stands at 6.62%, down from 6.88% a year ago. This decrease offers some relief to prospective buyers, although rates remain higher than the historic lows seen in previous years. AP News​

Home Prices: Slowing Growth

Home price appreciation is decelerating, with national prices rising at a slower pace. This trend indicates a move towards a more balanced market, allowing buyers to negotiate more effectively and reducing the urgency that characterized the market in recent years. Homes for Heroes®​

📍 Columbus, Ohio Market Insights

Inventory Surge

The Columbus housing market is experiencing a substantial increase in inventory. New listings have surged by 34% year-over-year, providing buyers with a broader selection of homes and contributing to a more balanced market environment.​

Price Adjustments

Median home prices in Columbus have seen a slight decline, with a 1.1% decrease compared to the previous year, bringing the median price to $270,000. This adjustment reflects the increased inventory and a shift towards a more buyer-friendly market. ​

Extended Time on Market

Homes in Columbus are taking longer to sell, averaging 50 days on the market, up from 42 days the previous year. This trend suggests that buyers have more time to make decisions, and sellers may need to adjust pricing strategies accordingly.​

💼 Economic Factors Influencing the Market

Impact of Tariffs on Construction Costs

Recent tariffs imposed on imported construction materials, including lumber and steel, are increasing the cost of building new homes. The National Association of Home Builders estimates that these tariffs could add approximately $9,200 to the cost of a new home, potentially affecting affordability and slowing new construction projects. National Association of Home Builders​

Trade Policies and Market Uncertainty

The broader economic uncertainty stemming from evolving trade policies is influencing the housing market. Tariffs on goods from key trading partners are contributing to increased costs for builders and may impact the overall pace of housing market recovery. Reuters​

🔍 Conclusion

The real estate market in April 2025 is characterized by increased inventory, modest declines in mortgage rates, and economic factors influencing construction costs. Buyers are finding more options and negotiating power, while sellers must adapt to a more competitive environment. Staying informed and working with knowledgeable real estate professionals is crucial for navigating this evolving landscape.​