April 2025 Housing Market Update: What Buyers and Sellers Need to Know

By Grant The Realtor

As we move deeper into 2025, the real estate market continues to evolve — and staying ahead of the trends is key whether you're thinking about buying, selling, or investing. Here’s a look at what's happening right now in the national and local markets, and what it means for you.

Home Prices Are High, but Growth is Slowing

The national median home price hit a record $385,000 earlier this year, but the pace of price increases is finally starting to cool. After years of rapid appreciation, we're seeing a more stable, balanced market take shape. Some states, including Hawaii, are even seeing slight price declines — offering new opportunities for buyers who’ve been patiently waiting on the sidelines.

For sellers, this means pricing strategy is more important than ever. Homes are still selling, but buyers are being more selective. Correctly positioning your home from the start can make all the difference between a quick sale and a listing that lingers.

Mortgage Rates Are Stabilizing

Good news for buyers: mortgage rates have settled around 6.6%, down from earlier peaks above 7%. While affordability is still a challenge for many, lower rates are bringing some much-needed confidence back to the market. If you’re thinking about buying, now may be the sweet spot to lock in a rate before any future volatility.

Inventory is Rising, but Still Tight Compared to Pre-2020

Nationwide, inventory levels have increased by about 12% compared to last year — a welcome change after years of low supply. Yet we are still well below pre-pandemic inventory norms, especially in desirable markets like Hawaii and California. Properties that are well-priced and well-presented are still receiving strong interest, while overpriced homes are sitting longer.

Local Spotlight: Hawaii’s Market Remains Resilient

Here in Hawaii, the market remains competitive, but we’re seeing an important shift: prices are softening in certain areas, particularly for higher-end properties. This creates a window of opportunity for strategic buyers who want to secure a slice of paradise at a more reasonable price. However, because inventory remains relatively limited, serious buyers need to act decisively when the right property comes along.

What This Means for You

If you’re a buyer, this spring and summer could offer one of the best windows we’ve seen in a few years — with more choices, slightly lower competition, and better financing options. Preparing your pre-approval and being ready to move quickly will give you the upper hand.

If you’re a seller, strategic pricing, professional marketing, and home preparation are crucial. Buyers today are savvy, and they’re looking for value. I work with my clients to make sure their properties are positioned to stand out in today’s more discerning market.