At the same time, “historically low” inventory managed to post gains, Illinois REALTORS® said. 

The pace of sales rose 7.4% compared to February, topping analyst estimates by a large margin.

Prominent real estate economist Matthew Gardner shares insights on the first quarter of 2025 — including his takes on tariffs, immigration, brokerage acquisitions, mortgage rates and more.

The average 30-year mortgage saw its contract interest rate jump to 6.90% from 6.81% the week before, the Mortgage Bankers Association said. 

The surprisingly large decline in the pace of housing starts comes as builder sentiment remains depressed by tariff worries and high prices. 

eXp Realty CEO Leo Parejo added that eXp’s recent decision to adhere to Zillow’s anti-private listing policy is not exclusive to the online portal.

In a statement, Redfin CEO Glenn Kelman also asked MLSs to create a “coming-soon” designation that precludes search sites from showing listing history. 

eXp Realty was the first brokerage to publicly join Zillow, announcing its commitment to ensuring eXp listings are available on Zillow within 24 hours of marketing to consumers.

The upgrades that brought homeowners the most joy in 2024 were primary bedroom suites, kitchens and new roofing.

“In a plot twist, baby boomers have overtaken millennials — the largest U.S. population — to become the top generation of homebuyers,” said Jessica Lautz, NAR’s deputy chief economist and vice president of research.

The acquisition of the mortgage servicer comes on the heels of Rocket’s $1.75 billion deal for Redfin. 

The National Association of REALTORS’® Pending Home Sales Index rose 2% month over month in February, topping an expected 0.9% gain. 

The new policy allows sellers to put off marketing their properties for a period of time to be determined by their local MLSs. 

Nationally, home sales were down 2.6% year over year and up 8.4% month over month, RE/MAX said. 

The median existing-home price was also on the upswing last month, providing homeowners a bit of refuge as the stock market undergoes a correction, Chief Economist Lawrence Yun said in the monthly report. 

The pace of new-home construction was higher than economists expected, even as homebuilders expressed concern about the impact of tariffs and supply-side challenges.