If you’ve been watching the housing market, you may be wondering: is this a slowdown—or is it actually a moment of opportunity?
The headlines can feel confusing. On one hand, existing home sales are softening. On the other, new home sales are seeing a surge. Add in some economic uncertainty and a shifting job market, and it’s no wonder people are hesitant.
Let’s unpack what’s really going on—and how you can move forward with clarity.
Existing Home Sales: A Slight Dip and Rising Cancellations
In April, existing home sales fell slightly—down 0.5% from March to an annualized pace of 4 million homes. That’s the slowest April since 2009. Economists had expected stronger numbers, but one key factor likely caused the dip: more deals are falling through.
The cancellation rate rose to 7%, likely due to recent stock market volatility. Some buyers saw their savings shrink, while others chose not to sell investments at a loss.
Still, this doesn’t mean the market is crashing. It means that in uncertain times, buyers are simply being more cautious.
What this means for you:
If you’re a buyer, this could mean less competition—especially on existing homes. And if you’re a seller, you’ll want to be sure your home is priced right and presented well. The buyers are still out there, but they’re more selective.
New Construction: Demand is Picking Up Speed
While existing home sales dipped, new home sales told a different story. In April, new home contracts rose by nearly 11%—the strongest monthly gain in three years.
That’s a clear sign that buyers are still active. They’re just shifting their focus to new homes, where there’s more inventory and often more flexibility. In fact, even though the median price of new homes dipped slightly, overall demand has remained strong.
What this means for you:
If you’re a buyer struggling to find the right home, new construction may open more doors—literally. Builders are often offering incentives, and in many cases, you can avoid the competition and stress that can come with bidding wars on existing homes.
The Job Market: Stability Is the Watchword
The job market also sends a mixed message. On one hand, initial jobless claims remain low—meaning layoffs aren’t spiking. On the other, continuing claims just climbed to 1.9 million, the second highest since 2021.
This suggests that while fewer people are losing jobs, those who are may be taking longer to find new ones. And that can make some buyers hesitate.
What this means for you:
If you’re planning to buy, job stability is an important piece of the puzzle. It affects your loan approval, your confidence, and your timing. If you’re in between roles or planning a career shift, talk with your mortgage advisor early—we can help you create a plan that makes sense, both financially and personally.
So—Is This a Slowdown or an Opportunity?
Honestly, it’s a little of both. Yes, there’s more caution in the market right now. But that’s exactly when the right strategy can help you stand out. The truth is, inventory is still low, and demand remains steady. Home prices aren’t falling—they’re adjusting. And buyers who are prepared are still finding great opportunities.
Here’s what we recommend:
If you’re selling:
- It’s still a strong market, especially for well-presented homes.
- Inventory is low, and serious buyers are looking.
- Listing now means less competition and a chance to stand out.
If you’re buying:
- Focus on preparation. Get fully pre-approved, not just pre-qualified.
- Explore all your options—especially new construction.
- Work with a team who understands how to navigate this market and advocate for your best deal.
Let’s Build a Plan That Works for You
The market may be shifting, but the fundamentals still point toward opportunity. Whether you’re buying your first home or preparing to list, we’re here to guide you every step of the way—with clear advice, personalized strategies, and tools to help you succeed.
If you’re ready to move forward, let’s talk. We’ll help you understand your options and make smart decisions in today’s market.
Ready to get started? Let’s connect and build your homeownership strategy.
