America’s spring homebuying season just hit its weakest point in over a decade — marking the slowest market since 2012 and sparking fears that a full-blown price collapse could be next.
Spring is traditionally the hottest time for pending home sales but that’s no longer the case in the in the now struggling US housing market.
In 2025, April through June brought the lowest sales in 13 years, according to Redfin.
The once-reliable season fizzled as sky-high mortgage rates, stubbornly elevated prices, and growing economic uncertainty pushed buyers to the sidelines.
‘People say price solves everything,’ Atlanta real estate veteran Glennda Baker told Bloomberg. ‘But price doesn’t solve uncertainty.’
She currently has 21 listings — a personal high — is now urging clients to slash prices to sell.
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.
Hesitant buyers, mounting price cuts, and frustrated sellers have left what agents are now calling a ‘paralyzed’ market — one that, realtors warn, may only revive if sellers start slashing prices in earnest.
