{"id":115073,"date":"2025-08-03T07:52:14","date_gmt":"2025-08-03T07:52:14","guid":{"rendered":"https:\/\/www.europesays.com\/us\/115073\/"},"modified":"2025-08-03T07:52:14","modified_gmt":"2025-08-03T07:52:14","slug":"home-sales-crater-to-13-year-low-and-realtors-warn-the-next-step-is-every-americans-worst-fear","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/us\/115073\/","title":{"rendered":"Home sales crater to 13-year low… and realtors warn the next step is every American’s worst fear"},"content":{"rendered":"

America’s spring homebuying season just hit its weakest point in over a decade <\/a>\u2014 marking the slowest market since 2012 and sparking fears that a full-blown price collapse could be next.\u00a0<\/p>\n

Spring is traditionally the hottest time for pending home sales but that’s no longer the case in the\u00a0in the now struggling US housing market<\/a>.<\/p>\n

In 2025, April through June brought the lowest sales <\/a>in 13 years, according to Redfin.\u00a0<\/p>\n

The once-reliable season fizzled as sky-high mortgage rates, stubbornly elevated prices, and growing economic uncertainty pushed buyers to the sidelines.\u00a0<\/p>\n

‘People say price solves everything,’ Atlanta real estate veteran Glennda Baker told Bloomberg. ‘But price doesn’t solve uncertainty.’<\/p>\n

She currently has 21 listings\u00a0\u2014 a personal high \u2014 is now urging clients to slash prices to sell.<\/p>\n

Earlier in the year, analysts hoped the market might rebound as mortgage rates dipped slightly and listing prices softened. But that flicker of optimism has faded.\u00a0<\/p>\n

Hesitant buyers, mounting price cuts, and frustrated sellers have left what agents are now calling a ‘paralyzed’ market\u00a0\u2014 one that, realtors warn, may only revive if sellers start slashing prices in earnest.<\/p>\n

\"With <\/p>\n

With spring traditionally the hottest time for pending home sales from April through June, that’s no longer the case in the ever-plummeting US housing market\u00a0<\/p>\n

\"Atlanta <\/p>\n

Atlanta real estate veteran Glennda Baker<\/p>\n

‘We thought we hit rock bottom but we keep discovering there’s more rock bottom to be had,’ said Chen Zhao, head of economics research at Redfin.<\/p>\n

Redfin’s findings confirm what brokers across the country already know. Lack of showings, showings, weak offers, and growing desperation among sellers is not helping the market.<\/p>\n

Some sellers are pulling homes off the market entirely \u2014 de-listing their properties because they won’t get asking price.<\/p>\n

Experts predict it’s not going to get batter any time soon.<\/p>\n

‘The outlook for the housing market is dire,’ said Thomas Ryan of Capital Economics. ‘Affordability is at its worst since the 1980s. Nothing has changed on that front.’<\/p>\n

The market is playing out differently across the country, though.<\/p>\n

In the Northeast and Midwest, the scarcity of listings is still keeping home prices high.<\/p>\n

But in Sun Belt metros like Florida, Texas and Nevada, inventory keeps piling up and sales are plunging.<\/p>\n

\"America's <\/p>\n

America’s spring homebuying season has fallen to its weakest point in more than a decade\u00a0<\/p>\n

\"Las <\/p>\n

Las Vegas, NV, has seen a surplus of inventory year-over-year and sales are slow<\/p>\n

\"Chen <\/p>\n

Chen Zhao, the head of economics research for Redfin, says ‘more rock bottom to be had’<\/p>\n

In Las Vegas, active listings have soared more than 38 percent year-over-year, while sales have dropped 15 percent, Redfin reported.<\/p>\n

‘The fear of missing out has shifted from buyers to sellers,’ said Angela O’Hare, a Las Vegas-based agent.<\/p>\n

‘Sellers who need to sell will make it happen. I had a listing at $950,000. I cut it down to $799,000 and had three offers.’<\/p>\n

Some luxury enclaves like Narragansett, RI, are starting to show signs of uncertainty.<\/p>\n

‘We’re seeing a lot more price decreases throughout Rhode Island now,’ said Johnny Sheil, of Mott & Chace Sotheby’s International Realty. ‘Uncertainty scares some people.’<\/p>\n

Experts also warn there’s little chance of a dramatic turnaround for the remainder of the summer.\u00a0<\/p>\n

Meanwhile, the surplus of homes is so bad in some US metros that it’s become a sellers worst nightmare.<\/p>\n

In one instance, Cape Coral, Florida,\u00a0has become a place people are desperately trying to escape, with for sale signs popping up on lawns all over town.<\/p>\n

But no one will touch their properties.<\/p>\n

Open houses are empty, foreclosure ‘boat tours’ take locals around to see homes that the bank has repossessed, and half-built homes are left to rot.<\/p>\n

‘It is one of the worst real estate markets for a seller right now,’ local realtor Jos\u00e9 Echevarria told the Daily Mail.<\/p>\n

Prices in Cape Coral have been slashed for more than 50 percent of homes over the past two years – more than any other major metro area in the US, he added.<\/p>\n","protected":false},"excerpt":{"rendered":"America’s spring homebuying season just hit its weakest point in over a decade \u2014 marking the slowest market…\n","protected":false},"author":3,"featured_media":115074,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[64,211,723,2184,72248,67,132,68],"class_list":{"0":"post-115073","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-business","9":"tag-dailymail","10":"tag-florida","11":"tag-las-vegas","12":"tag-realestate","13":"tag-united-states","14":"tag-unitedstates","15":"tag-us"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@us\/114963752263678598","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/115073","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/comments?post=115073"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/115073\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media\/115074"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media?parent=115073"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/categories?post=115073"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/tags?post=115073"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}