The real estate market is constantly evolving, and staying informed can help you make the right move. Whether you're planning to buy or sell, understanding home price trends, mortgage rates, and buyer strategies is crucial. Here’s everything you need to know about the March 2025 market update!

Home Prices Hold Steady

According to CoreLogic Chief Economist Selma Hepp, home prices have remained steady since late summer 2024. While some buyers were worried about major price drops, stability is good news for both buyers and sellers.

📍 Year-over-year price increases:
✔️ Minneapolis: +3.2%
✔️ Chicago: +6%
✔️ New York: +7.2%

Mortgage Rates Are Dropping

After six consecutive weeks of declines, the average 30-year fixed mortgage rate has dropped below 7%, currently sitting at 6.75% as of March 5, 2025. This decrease makes homeownership more affordable, and even a half-percent drop can save buyers thousands over the life of their loan!

Creative Financing Options

With rates improving, buyers have more options than ever, including: ✅ Mortgage Buydowns – 27% of first-time buyers are requesting these from sellers. ✅ Adjustable Rate Mortgages – Lower initial rates for more affordability. ✅ Seller Concessions – Helping buyers secure better financing terms.

What This Means for You

🏡 For Sellers: Home values remain strong, and motivated buyers mean now is a great time to list. Offering incentives like mortgage buydowns can attract more offers!

🏠 For Buyers: Lower rates and creative financing options make it a great time to secure a home with a more affordable monthly payment.

Ready to Make Your Move?

The market is shifting, and timing is everything. Whether you're buying or selling, having expert guidance can make all the difference. Reach out to us today to discuss your goals and get started!

📞 Call or text: 612-685-8811
📩 Email: info@breuerchoice.com
🌐 Visit: www.FirstChoice RealtySolutions.com