Homebuyers Have More Power This April—Here’s Why

If you've spent the last year refreshing Zillow listings and watching prices climb while mortgage rates refused to budge, you’re not alone.

For many aspiring buyers, 2024 felt like a year of frustration—marked by tight inventory, stiff competition, and rising costs that made homeownership feel out of reach.

But this spring, the tide is turning—and with it, new opportunities are opening up.

April 2025 is bringing more homes to market, more motivated sellers, and even a modest dip in mortgage rates that’s trimming monthly payments. It's not a full-blown buyer’s market—but it’s a meaningful shift that could give you more breathing room and more options.

If you’ve been waiting for a sign to restart your search, this just might be it.

Buyers have more options than last spring

After years of housing shortages, we’re finally seeing a real uptick in available homes. As of mid-April, over 719,000 single-family homes are on the market—a whopping 32.5% increase from the same time last year.

And this isn't just a slow climb. In just one week, 17,000 new listings hit the market—the biggest single-week jump in nearly three years. That means more options across price points, styles, and neighborhoods. For buyers, it can translate into less pressure to rush into a bidding war and more space to find a home that truly fits.

Lower mortgage rates mean more affordable payments

While mortgage rates are still high compared to the historic lows of 2020 and 2021, they’ve inched down slightly from last year’s levels—and that’s helping buyers breathe a little easier. On average, monthly mortgage payments are now about 3% cheaper than they were a year ago.

That small change can stretch your budget just enough to expand your options or keep your payment comfortably within reach. And with rates stabilizing, many buyers are feeling more confident moving forward rather than waiting on the sidelines.

Home sales are picking up—and that’s a good sign

Pending home sales are also showing signs of life. According to NAR's Pending Home Sales Index, around 72,000 homes went under contract last week alone—slightly above last year’s numbers for the same period. In fact, nearly 2% more homes are in contract now than April 2024.

What does that tell us? Buyers are stepping back into the market. It’s a signal that people are adjusting to today’s realities—and finding ways to move forward. If you’re still in the planning or pre-approval phase, know that others are making moves and finding success.

Prices are holding steady, but sellers are more flexible

Despite the growing inventory, home prices haven’t taken a major dive. The median price for pending sales is holding firm at just under $400,000, nearly identical to where it was a year ago.

But here’s the twist: sellers are showing more flexibility than they have in quite some time. Right now, 35.5% of listings have price reductions, up from 32% this time last year—signaling that more sellers are adjusting their expectations in response to shifting market conditions.

And that’s not all. In addition to lowering list prices, many sellers are also offering extra concessions—things like covering closing costs, helping with rate buydowns, or making repairs before closing. These incentives, once rare during the ultra-competitive pandemic housing market, are making a comeback.

For buyers who are financially prepared, this means more than just price drops. It could mean walking away with a better deal overall, especially if you're able to negotiate not just on the home price, but on the terms of the sale itself.

Regional markets are a mixed bag

Not every housing market is behaving the same way. While many areas are gaining momentum, some regions are still lagging. For example, Florida’s housing market is seeing a slowdown, with a 10% drop in weekly sales and sluggish movement in the condo sector.

This kind of regional variation is a reminder to stay tuned into your local market. National trends are helpful, but your best shot at finding the right opportunity comes from knowing what’s happening in your area—whether that’s working with a local agent or digging into neighborhood-level data.

The bottom line

April isn’t offering a magic wand, but provides something valuable—momentum. A combination of rising inventory, more flexible sellers, and slightly improved affordability gives buyers more of what they’ve been asking for: options, time, and a fair shot.

If homeownership is still your goal in 2025, this spring might be the season to seriously re-engage. The door opened just a little wider—and you might be closer than you think to walking through it.