April 2025 Housing Market Report: What Today’s Buyers, Sellers, and Renters Need to Know

Wondering where the housing market is headed this spring? You’re not alone. Between unpredictable mortgage rates, talk of a possible recession, and shifting generational trends, it’s hard to know what to expect. That’s why we share these updates each month—to help you sort through all the news and noise, and figure out what really matters for you, your home, your future, and your finances. At Nuvision, we’re here to help you  make sense of the housing market.

Zillow: Mortgage Rates Remain Volatile, Buyer Anxiety Grows

According to Zillow, mortgage rates are still reacting to daily news, bouncing around more than usual—though not quite as wildly as they did during past tariff-driven disruptions. While rates briefly dipped in March, they’ve already climbed back to where they were in mid-February. Zillow predicts rates will settle around the mid-6% range by year’s end.

The temporary rate relief in March did bring more sellers into the market—but buyers didn’t flood in at the same pace. Instead, many are hesitant. Some are dealing with shrinking investment portfolios, which makes it harder to put together a down payment. Others are just unsure if now’s the right time to buy, given rising costs and economic uncertainty. Still, Zillow believes sales will pick up over the course of 2025 as more homes become available.

Redfin: Advice for Navigating a Shifting Market

Redfin’s economic team is urging caution in the current climate. With market volatility and a 50/50 chance of recession on the horizon, buyers are advised not to stretch their budgets. Instead, focus on financial security, making sure your emergency fund can handle your mortgage if income takes a hit.

This is also a market where negotiation matters more than ever. Redfin reports that many homes are selling below asking price, and sellers are becoming more flexible. If you’re shopping for a mortgage, don’t be afraid to ask about options like a “float down,” which essentially provides a safety net, allowing you to benefit from lower rates if they drop after you lock in a rate. On the flip side, sellers should expect more price cuts. The market is shifting toward buyers, and even small market jitters can cause deals to fall through. Renters, meanwhile, may face rising demand—and rising prices—as more would-be buyers choose to wait things out.

The Growing Income Gap Between Renters and Buyers

A new Redfin report highlights just how much harder it’s getting to transition from renting to owning. As of February, a household now needs to earn over $116,000 a year to afford a median-priced home—about 82% more than what’s required to afford a typical rental. That gap keeps  widening, year after year.

Even with rents climbing, home prices and interest rates are climbing faster. The average household earns about $86,000—leaving a significant shortfall for those hoping to buy. And while it’s still possible to find affordable options with the right strategy and support, the path to homeownership is undeniably steeper than it used to be.

National Association of Realtors: Boomers Lead the Market Again

The latest data from NAR shows a surprising twist: Baby boomers are now the largest group of home buyers, making up 42% of purchases, while millennials have dropped to 29%. What’s fueling the shift? Cash. Many boomers—especially older ones—are skipping financing altogether. Half of older boomers, and 40% of younger boomers, are buying homes outright with cash.

Meanwhile, younger buyers continue to rely heavily on financing, and often need help from family to cover down payments. First-time home buying has dropped to just 24% of the market, down from 32% last year. Gen X buyers are also making a mark, especially in multigenerational housing, with 1 in 5 purchasing homes that accommodate extended family.

This generational shakeup highlights how equity, income, and timing play a role in navigating today’s market—and why strategies need to be different depending on where you’re starting from.

Steven Thomas: Price It Right or Get Left Behind

Steven Thomas compares the spring housing market to a neighborhood garage sale: the biggest wave of interest happens early. If you don’t price things right, you’re stuck watching buyers walk by. That same principle applies to real estate this year. There’s more seller competition, fewer buyer showings, and a growing sense of doubt among homeowners who overprice.

Buyers are more informed than ever. With real estate apps and market data at their fingertips, they’re quick to judge if a home is worth seeing—or if it’s priced out of touch. The longer a home sits unsold, the less likely it is to grab attention. That’s why accurate pricing is more than important—it’s essential. If you’re thinking about selling, don’t miss your window. Getting it right the first time could be the difference between a fast sale and a frustrating spring.

Want a Deeper Look at the Economy? We’ve Got You Covered

If you’re trying to make sense of all the moving parts—from inflation and interest rates to job growth and consumer confidence—check out our recent Economic Forecast webinar. Economist Dr. Chris Thornberg shared a no-spin look at the facts behind the headlines and what they could mean for housing, the economy, and your finances in the year ahead.

You can watch the full replay here:
Nuvision 2025 Economic Forecast Webinar Replay

And if you’re looking for practical tips to navigate the current market, boost your savings, or tackle debt, our Financial Wellness Center is always open. It’s packed with tools and guides to help you make confident financial decisions, no matter where you're starting from.

We’re Here to Help You Move Forward

Whether you’re ready to buy, thinking about selling, or just trying to understand where things are going, Nuvision is here to help.