May 30, 2025
May 30, 2025
- The Realtor.com® economics team video update gives you the relevant economic and real estate information you need to know each week every Friday to navigate the housing market as a homebuyer, home seller, or industry professional.
- For the week ending May 30, Realtor.com® Senior Economic Research Analyst Hannah Jones discusses the latest data on pending home sales and the Case-Shiller Home Price Index. She looks at new Realtor.com survey data on how homeowners and potential buyers are feeling about mortgage rates, as well as the latest Realtor.com weekly housing data. Finally, as graduation season comes to a close, she shares the top rental markets for recent college graduates.
- You’ll find all the details including full reports and our housing data for download at realtor.com/research. You can also follow us on X (formerly twitter) for real time updates. And instagram @realtordotcomecon for graphics.
VIDEO TRANSCRIPT:
- I’m Hannah Jones, Senior Economic Research Analyst at Realtor.com®. To close out this holiday week, I’m going to cover the latest data on pending home sales and the Case-Shiller Home Price Index. I’ll look at new Realtor.com survey data on how homeowners and potential buyers are feeling about mortgage rates. I’ll also cover the latest Realtor.com weekly housing data. Finally, as new grads toss their caps and look to the road ahead, I’ll share the top rental markets for recent college graduates.
- Let’s start with pending home sales which fell sharply in April and also trailed behind one year ago. All four regions saw contract signings fall on a monthly basis, and most saw an annual decline as well.
- The latest Consumer Confidence data offers a counterpoint to subdued pending home sales. The index surged in May after five months of decline, including an uptick in plans to purchase a home, due in large part to a spike in consumer expectations on the heels of the pause in tariffs on imports from China.
- The latest Case Shiller data on home prices in March showed an uptick, led by cities like New York, Chicago, and Cleveland.
- Elevated home prices and high mortgage rates continue to challenge buyers. A Realtor.com survey found that over one-third have delayed purchasing due to rates, with most only willing to buy if rates drop below 5%.
- Roughly half of Millennial and Gen Z respondents have delayed their buying plans due to high mortgage rates. However, Millennials are planning to forge ahead amid these market headwinds as nearly 1 in 4 millennial respondents indicated that they plan to buy a home in the next 6 months.
- Mortgage rates continued to climb this week following small jumps in the 10-year Treasury yield. Rates are now more than 10 basis points higher than they were in early May, after the US credit downgrade and growing uncertainty over tariff policy.
- Looking at Realtor.com weekly housing data we see that growth in both active and new listings were flat compared to the previous week, but price growth picked up. Price per square foot grew slightly faster, suggesting that some of the shift in home prices is due to a changing mix of homes for sale.
- Finally, degrees have been handed off and new college graduates are preparing for their next chapter. Recent Realtor.com research zeroed in on a list of top rental markets for recent grads. The analysis considered rental affordability and availability, job market strength and stability, and the area’s appeal to young people.
- Leading the list are Austin, TX; Raleigh, NC; and Overland Park, KS, all of which offer affordable rents in attractive locations.
- You can find all the details, including full reports and our housing data for download, at realtor.com/research. You can also follow us on X (formerly twitter) for real time updates. And instagram for graphics.
Subscribe to our mailing list to receive monthly updates and notifications on the latest data and research.