The latest Mortgage Monitor report from ICE Mortgage Technology indicates a significant slowdown in home price growth as the 2025 spring homebuying season kicks off. Data shows home prices softening across the U.S., influenced by stabilized mortgage rates and improved inventory levels. The annual price growth has diminished, with predictions of further drops in mortgage rates that could open refinancing opportunities. A notable decline in condo prices, especially in the Sunbelt, highlights a broader cooling trend across 90% of U.S. markets, emphasizing the shift as inventory levels rise and mortgage rates stabilize.
An early look at March data shows that home prices are softening nationwide, driven by stabilized mortgage rates and improving inventory levels.
With condo prices dropping for the first time in more than a decade, the Sunbelt markets, particularly Florida, are experiencing the largest declines.
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