I
f you're dreaming of snagging a house for a steal, you're probably wondering: when will it be a buyer's market? The short answer is that while we may see more balance in the market soon, a deeply advantageous buyer's market nationally isn't likely to arrive before late 2025 or even into 2026. Several factors, including mortgage rates, inventory levels, and overall economic growth, are at play here.

    Before we dive into the data, it's essential to understand that "buyer's market" and "seller's market" are relative terms. What feels like a good deal for a buyer in one city might be a seller's dream in another. And even within a city, different neighborhoods can behave uniquely. If you're sitting on the sidelines, a seasoned real estate professional will be very helpful.

    As of July 2025, the housing market presents a mixed bag. According to the National Association of REALTORS (NAR), existing-home sales decreased by 2.7% in June. Let's break it down:

    * Sales: Existing-home sales are down 2.7% month-over-month, sitting at a seasonally adjusted annual rate of 3.93 million. Year-over-year, sales are unchanged.

    * Inventory: Total housing inventory is at 1.53 million units, a slight decrease of 0.6% from May but a significant 15.9% increase from June 2024. This translates to a 4.7-month supply, up from 4.6 months in May and 4 months a year ago.

    * Prices: The median existing-home price hit a record high of $435,300, up 2% from last year. This marks the 24th consecutive month of year-over-year price increases!

    * Mortgage Rates: The average 30-year fixed-rate mortgage is hovering around 6.75%, slightly up from the previous week but down from a year ago.

    Regional differences are significant:

    * Northeast: -8% sales decline, $543,300 median price

    * Midwest: -4% sales decline, $337,600 median price

    * South: -2.2% sales decline, $374,500 median price

    * West: +1.4% sales growth, $636,100 median price

    A true buyer's market happens when inventory surges, prices drop (or stagnate), mortgage rates rise (or stay high), and days on market increase.

    Lawrence Yun, NAR Chief Economist, predicts:

    * Brighter days may be on the horizon

    * Existing-home sales will rise 6% in 2025 and 11% in 2026

    * New-home sales will climb by 10% in 2025 and 5% in 2026

    * Median home prices will increase modestly by 3% in 2025 and 4% in 2026

    Realtor.com Housing Forecast:

    * Mortgage rates may ease slowly, averaging 6.1% in 2026

    * Home sales are expected to land at 4 million in 2025

    * Home prices could climb, but growth is expected to slow further (+2.5%)

    Based on these expert analyses, I believe a true buyer's market nationwide is unlikely in the immediate future. However, the projected slowing in price growth and potential inventory increases could create pockets of opportunity for buyers.

    The wildcards that could disrupt the current forecasts include:

    * Unexpected economic slowdown

    * Significant increase in new construction

    * Sudden increase in mortgage rates

    To position yourself for success, consider getting pre-approved/pre-qualified, strengthening your credit score, saving a bigger down payment, researching different markets, working with an experienced agent, and being patient and flexible.