Mortgage Rates– Mortgage rates remain elevated, holding steady at 6.8% for a 30-year fixed loan, with the annual percentage rate (APR) at 6.9% when fees are factored in.
Despite expectations of rate cuts earlier in the year, the housing market continues to navigate high borrowing costs, even as inventory levels begin to rebound.
According to the latest data from Realtor.com, there are 959,000 existing homes for sale across the U.S. as of April 2025, marking a 30.6% year-over-year increase.
This is the highest April inventory since 2020, a sign that the market is slowly recovering from the record-low listings seen during the pandemic years.
In Palm Beach County, Florida, specifically, there are 19,000 active listings, reflecting a localized boost in housing supply.
Meanwhile, the National Association of Realtors (NAR) reports that the current supply of existing homes stands at four months, up from 3.5 months in February. However, this still falls short of the four to six months typically considered a balanced market.
Economists suggest that the combination of higher mortgage rates and increased inventory may help ease price pressures in certain regions, although affordability remains a challenge for many first-time buyers.
With the Federal Reserve keeping a cautious stance on rate cuts, homebuyers are encouraged to shop around for the best mortgage offers, consider rate-lock options, and monitor regional trends.
As the market transitions, experts anticipate a more buyer-friendly environment by late 2025, provided that inflation stabilizes and lending conditions improve.