Spring Surge: Higher returns for sellers start in March, peak in late May

Timing isn’t everything, but it certainly matters. Listing a home in the spring can yield sellers a significant financial advantage.

Home sale data from 2024 shows that sellers who listed their home in the last two weeks of May netted an additional 1.6% on the sale, about $5,600 on the typical U.S. home. Sellers generally get better-than-average returns if they list between March 15 and July 31, but many factors affect the timing premium.

The housing market has undergone significant changes in recent years, and it has shifted around the optimal time for sellers. While late-April/early-May was traditionally considered the prime selling season, this trend has been disrupted by a confluence of factors, most notably the COVID-19 pandemic and fluctuating mortgage rates. In 2022, sellers nationwide saw the highest sale premium when they listed their home in late March, right before rates barreled past 5% and continued climbing. Buyers pulled back as the year progressed and so only the earliest sellers were able to cash in. In 2023, buyers held out late into the season in the hope that rates would go down, drawing the peak selling season all the way to June.

In 2024, the housing market saw a period of relative stabilization, with less fluctuation in prices and a less pronounced impact of seasonality on sales outcomes. Without a major catalyst altering the seasonality, sellers were less rewarded (and less punished) for their timing, and listing performance followed a more normal cycle.

The best time to list can vary widely by metropolitan area. It was as early as the second half of March in Austin, San Diego, San Jose, and Seattle. In Phoenix, though, where sales started the year flat but ended 22% higher, it was the few sellers who listed in late November that actually saw the greatest rewards.

The sale price premium associated with listing at the local peak also varied widely. Major bonuses were found in San Jose (5.3%, $93,200), Los Angeles (3.9%, $39,300), and Cleveland (3.7%, $8,600), during peak seasons spread out from March through June. In less seasonal Orlando, however, homes only sold for 0.9% ($3,700) more during its early May peak period.

Timing a home sale around mortgage rates and local market dynamics is difficult and has varying benefits. This is one reason why it is so important for sellers to start working with an agent early, who can understand the individual home and when to market it in the local environment. The reality is most sellers don’t have the luxury of being able to wait for the right week and the right month to sell. Timing aside, sellers can still take advantage of other strategies to reach the most potential buyers. They can net top dollar by maximizing exposure, focusing on screen appeal, and highlighting in-demand features.

Methodology: 

This analysis included 1.6 million transactions closed in 2024 for which complete data was available, including a listing history that could be matched to the transaction and a reliable Zestimate history. We calculate a premium by first establishing a non-seasonal benchmark for the expected sale price of homes. This benchmark is based on the Zestimate from 6 months before the sale, adjusted by the change over the following 6 months in smoothed and seasonally adjusted metro-level ZHVI over the following 6 months. The median ratio of the actual sale price to this benchmark for homes listed in a specific period is then compared to the median ratio for the entire year.

Read more at Zillow

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If there is a home that you would like more information about, if you are considering selling a property, or if you have questions about the housing market in your neighborhood, please reach out. We’re here to help.

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Weekly mortgage demand surges 20% higher, after interest rates drop to the lowest since last year

A sharp drop in mortgage interest rates finally lit a fire under loan demand. Both current homeowners and potential homebuyers jumped back into the market, after a lackluster showing for this year so far.

Total mortgage application volume jumped 20.4% last week compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. This was not only the first increase in three weeks, but it is an outsized weekly move.

Mortgage rates were clearly the culprit. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances, $806,500 or less, decreased to 6.73% from 6.88%, with points falling to 0.60 from 0.61, including the origination fee, for loans with a 20% down payment. That is the lowest level since December 2024.

“Mortgage rates declined last week on souring consumer sentiment regarding the economy and increasing uncertainty over the impact of new tariffs levied on imported goods into the U.S.,” said Joel Kan, an MBA economist, in a release. “Those factors resulted in the largest weekly decline in the 30-year fixed rate since November 2024.”

Applications to refinance a home loan, which are most sensitive to weekly moves in interest rates, jumped 37% for the week and were 83% percent higher than the same week one year ago. While the vast majority of borrowers today still have loans with rates well below what is being offered today, more recent buyers from the last two years are now able to benefit from a refinance.

Applications for a mortgage to purchase a home rose 9% for the week but were still just 2% higher than the same week one year ago.

“This is a period where we typically see purchase activity ramp up and purchase applications were up over the week and continued to run ahead of last year’s pace, more green shoots as we head into the spring homebuying season,” Kan added.

While the weekly jump in purchase volume is certainly positive, it is still historically low. Buyers are up against high home prices, limited inventory and more uncertainty about the overall economy. The new tariffs levied on China, Canada and Mexico are widely expected to raise home prices, especially for new construction.

Mortgage rates moved very slightly lower to start this week, according to a separate survey from Mortgage News Daily. Tuesday, when the tariffs went into effect, the stock and bond markets rode a roller coaster, with bond yields, which mortgage rates follow, dropping along with stocks.

“As the day progressed, stocks and bonds bounced back in the other direction and the move was big enough for most mortgage lenders to reprice back toward slightly higher rates,” wrote Matthew Graham, chief operating officer at Mortgage News Daily. 

Read more at CNBC

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Here’s how tariffs will hit the U.S. housing market

From lumber to drywall to appliances to finishings, much of what goes into a U.S. home comes from outside American borders.

The cost of those products is about to go up, as President Donald Trump’s administration imposes tariffs on China, Mexico and Canada. Goods from China are now subject to a 20% tax, an increase from a previous 10% tax, and those from Canada and Mexico face a 25% tax. Canadian lumber was already subject to separate duties of 14.5%.

The new tariffs could increase builder costs anywhere from $7,500 to $10,000 per home, said Rob Dietz, chief economist at the National Association of Home Builders, citing estimates from U.S. homebuilders. Last year the NAHB estimated that every $1,000 increase in the median price of a new home prices out roughly 106,000 potential buyers.

The greatest impact to homebuilders will be from lumber cost increases, which are expected to total about $4,900 per home on average, according to Leading Builders of America, the trade group representing most of the nation’s publicly traded homebuilders.

Roughly a third of the lumber used in U.S. homebuilding comes from Canada, and domestic lumber producers are expected to raise their prices to match the imported supply.

“Since Trump first imposed the tariffs on Feb. 1, which were then delayed, we’ve seen some increase in buying with prices for Western Spruce-Pine-Fir two-by-fours increasing 13%,” said Paul Jannke, principal at Forest Economic Advisors. “With the re-imposition of the 25% tariff on Canadian goods shipped to the U.S., we expect Canadian producers will stop shipping lumber to the U.S. Meanwhile, dealers, who have been hesitant to buy given uncertainty around the tariffs, will need to step up purchases ahead of the coming building season. This will drive prices higher.”

Lumber futures are up 5% in the past week and were rising steadily Tuesday.  

Trump on Saturday issued an executive order to increase domestic lumber production through a streamlining of regulatory and permitting processes. The homebuilding industry took that as a win.

“A stable and affordable supply of lumber is critically important for our industry to address the country’s housing supply crisis,” wrote Ken Gear, CEO of the LBA, in a statement. “The domestic lumber industry cannot meet current demand, so we applaud President Trump for exploring opportunities to increase domestic supply as a long term solution.”

The NAHB, which represents small to mid-sized private builders, “welcomed” the move, but said in a statement, “Any additional tariffs on lumber could further increase the cost of construction and discourage new development, and consumers end up paying for the tariffs in the form of higher home prices.”

As for ramping up domestic production immediately, that’s easier said than done. Jannke estimates it would take up to three years to build multiple new mills. He explained that there are a limited number of companies that manufacture sawmill machinery and even fewer, perhaps one or two, that can build a mill top to bottom. 

High demand during the first years of the Covid-19 pandemic, when homebuilders were going gangbusters, had lumber producers rushing to expand.

“However, so many folks wanted to build [or] expand mills, that the lead times from equipment manufacturers moved out to two years,” Jannke said. “On top of that, once a mill was built, labor had to be found to operate the mill. These mills are in rural areas that tend not to have the skilled labor force needed to operate a modern sawmill. This added another year before the mill was operating at full capacity.”

The labor force, from logging to hauling, is already lean and decreasing. Opening up new land and deregulating the industry is one thing, but finding the workers to bring U.S. lumber to market is another.

“In the short term it is going to be very volatile from a pricing perspective,” said Kyle Little, chief operating officer at Melville, New York-based Sherwood Lumber. As for increasing production, “that won’t be a flip of a switch. You’re taking a 40-year supply chain and trying to switch overnight – that’s hard.”

Homebuying landscape

Beyond lumber, the homebuilding industry is subject to rising costs across the sector.

China is the market leader in household appliances. And, the majority of drywall, or gypsum, used in both commercial and residential construction is imported from other countries. In 2023, the U.S. imported $215 million in gypsum, becoming the largest importer of the product in the world, according to OEC World, a trade data platform. It primarily comes from Spain, Mexico and Canada.

“Rising costs due to tariffs on imports will leave builders with few options. They can choose to pass higher costs along to consumers, which will mean higher home prices, or try to use less of these materials, which will mean smaller homes,” said Danielle Hale, chief economist at Realtor.com.

Hale noted that while new construction will see the biggest impact, tariffs will change the landscape of the housing market overall, including existing homes.

“We may see buyers’ willingness to pay rise for existing homes as newly built homes get pricier, which would mean rising prices for existing homes, too. We may also see a lower appetite for major remodeling projects that would rely on these tariff affected inputs, hamstringing the ability of consumers to remake their homes to fit their current needs,” she added.

While costs for home construction will certainly rise, the Trump administration is touting lower mortgage interest rates in the past few weeks. The average rate on the 30-year fixed hit its most recent high of 7.26% on Jan. 13, according to Mortgage News Daily. It is now down to about 6.64%.

“I think thus far, one of the biggest wins for the American people is since Election Day, and since Inauguration, mortgage rates have come down dramatically,” said Treasury Secretary Scott Bessent in an interview Tuesday on Fox News.

Bessent noted the spread between the 10-year Treasury and mortgage rates narrowed, though that spread has in fact widened significantly since Trump took office.

The tariffs come at a time when the U.S. housing market is already under pressure. Signed contracts on existing homes dropped to the lowest level on record in January, according to the National Association of Realtors. Sales of newly built homes fell 10% in January, compared with December, according to the U.S. Census. And prices are still stubbornly high, with the inventory of homes for sale still historically low.

Read more at CNBC

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If there is a home that you would like more information about, if you are considering selling a property, or if you have questions about the housing market in your neighborhood, please reach out. We’re here to help.

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6 Retro Decor Trends That Are Making a Groovy Comeback in 2025

Retro home decor has made a major comeback in recent years, and its resurgence can be attributed to two factors: First, with the sustainable decorating movement, consumers are realizing that classic pieces will never go out of style, and can be thoughtfully incorporated into modern interiors. Second, homeowners have a deep yearning for the nostalgia and comfort represented by past decades.

"The magnitude and velocity of change in the last several years have led to 'future shock' for consumers. There’s a global feeling of being constantly behind and a yearning to slow down time," says Erica Bail, creative director at Graber.

Retro decor trends not only play into this yearning, but with their bright colors and patterns, they're also a fun way to give a decorative nod to the past. Plus, there's no need to redecorate your entire space to add some retro flair—focus on accent pieces such as a chair, light fixture, or area rug for for an affordable and harmonious way to blend the old with the new.

In addition to '80s and '90s nostalgia making a comeback, experts expect eclectic kitchens and midcentury modern classics to continue to trend. To help you get into the groovy spirit, design experts from various industries are sharing the top retro decor trends they say we can expect to see in 2025.

Bold Wallpaper Patterns

"Bold, patterned wallpapers reminiscent of past decades are making a return," says Alecia Taylor, interior designer at CabinetNow. This includes floral and geometric patterns as well as scenic murals, all of which are a sure way to add retro character to any room. "To embrace this trend without overwhelming your space, apply wallpaper to an accent wall or within a small nook," Taylor says. Pull colors from the wallpaper and incorporate them throughout the space in the form of artwork or decorative textiles to integrate the retro wallpaper and blend the old with the new.

Area Rugs With Bold Retro Colors and Patterns

Area rugs are a great way to channel any retro decor trend, be it through a sleek midcentury modern design or a quintessential '90s floral print. Additionally, they are a non-permanent room fixture and cover a significant portion of the floor, presenting a great opportunity to inject color and pattern into the space. Katherine Cohen, associate creative director at area rug manufacturer FLOR, recommends collecting and curating the right retro-style pieces and incorporating them into your existing space. "Using area rugs with bold colors and patterns perfectly complements more natural elements like organic shapes, rounded edges, and textural finishes," she says.

'80s-Inspired Design Elements

"Design is seeing a strong '80s revival with chrome finishes, graphic patterns, and bold primary colors making a comeback," says Abbey Stark, home furnishing direction leader at IKEA US. Just as silver has recently been replacing gold as the "it" metal in the world of fashion accessories, warm brass accents will be giving way to cool chrome touches in 2025. To incorporate a dash of '80s nostalgia into your space in an affordable way, Stark suggests adding a few accent pieces such as a stylish side chair or unique lamp.

Midcentury Classics

As we move into 2025, midcentury modern design continues to be a strong retro trend. "With lots of midcentury-style products on the market, this is an accessible go-to choice for those who embrace retro-inspired interiors," says James Mellan-Matulewicz, creative director and interior designer at Bobbi Beck. This trend is characterized by rich woods such as oak and walnut, clean lines, and low-sitting furniture. To pay homage to the retro style without having to redecorate your entire space, Mellan-Matulewicz recommends adding smaller elements such as a walnut sideboard, a sputnik chandelier, or a '50s-inspired wallpaper.

'90s Nostalgia

The '90s nostalgia trend has as much to do with a craving for cozy interiors as it does with a generational shift. "Millennials, who spent their formative years in this decade, are now becoming first or second-time homeowners with some disposable income and are looking to indulge in nostalgic comforts which help turn their houses into homes," Mellan-Matulewicz explains. At its core, this retro decor trend embraces what the designer calls "eclectic maximalism"—things like an abundance of trinkets and personal items which create a space that feels personal and imperfect, creating a home that carries the nostalgia of childhood happiness.

Eclectic Kitchens

Following the longtime popularity of all-white kitchens, Taylor says retro-inspired eclectic kitchens are the trend to watch out for in 2025. "This design moves away from uniformity, allowing for personalized and dynamic spaces," Taylor says. An eclectic kitchen layers different colors, textures, and patterns, and you don't necessarily need to embark on a complete remodel to embrace the playful trend. "Start by mixing different hardware finishes or incorporating open shelving to display a variety of dishware and decor," Taylor says.

Read more at Better Homes & Gardens

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Energy Bills Getting Higher? 5 Mistakes You’re Making With Your Appliances, Pros Say

These days, the number of appliances in a single home can reach double digits: you’ve got your fridge, oven, microwave, dishwasher, washer & dryer—and way more once you start counting smaller appliances in as well. With so many appliances in the home, it’s easy to make a mistake or two that can lead to a higher utility bill.

To save you money this year, we’ve reached out to some appliance and energy experts to find out the top mistakes you’re probably making (and how to fix them ASAP).

Forgetting to Unplug Appliances When Not in Use

The first (and easiest) way to save money on your energy bills this year is by unplugging appliances when you aren’t using them, according to Clement Feng, the vice president of Product Management at Briggs and Stratton Energy Solutions.

“Just take a walk around your home and you’ll quickly identify items like your laptop, printer, coffee maker, phone chargers, and other items,” Feng says. “Your TV and video game consoles are using energy even when they are turned off because they are still plugged in.”

Feng also adds that appliances can be deceiving because their size doesn’t necessarily determine the amount of energy they consume, so also keep tabs on appliances that have small digital display screens like toasters and coffee makers—since keeping these plugged in can also contribute to higher utility costs.

Using Appliances During “Peak” Hours

Taking a look at your energy bill and determining if your energy provider charges more during “peak” hours (typically around midday) will also help you save money in the long run.

“Consider timing your appliances like the dishwasher, washer, and dryer to run later at night or early in the morning, when rates may be lowest,” Feng says.

Feng also recommends cooking later in the evening as well since that’s when electric rates are typically lower.

Having an Outdated or Unmaintained HVAC System

According to Mark Woodruff, senior product manager at Trane Technologies, heating and cooling accounts for nearly half of the energy use in your home, so HVAC mistakes are normally the biggest contributor to higher utility bills.

Having an HVAC system that’s too old or isn't maintained regularly can be a serious sinkhole for your money.

“If your existing furnace is approaching the end of its typical 15-to-20-year lifespan, requires frequent repairs, or simply doesn’t heat like it used to, replacing it is an all-around better choice,” Woodruff says.

Even though replacing an entire HVAC system can be costly, newer models are much more energy efficient and can save you money long-term.

If your HVAC system is relatively new, regular maintenance will ensure that it’s running to the best of its ability. Be sure to change filters, regularly inspect your ductwork, and schedule maintenance tune-ups as soon as something goes awry so your system can remain as energy-efficient as possible.

Using Heating Devices Incorrectly

With plummeting winter temperatures, you may be tempted to give your home an extra boost by bringing out the space heaters or increasing your thermostat settings—but this is hurting your pockets.

“Space heaters are great for warming up a small room but are not an efficient way of warming up a whole house,” says Brandon Young, CEO of Payless Power. “If you keep a couple of heaters on all day, your bill will be astronomical. Same with cranking the heat up or tinkering with it all the time. It’s best to set it to around 68°F when home and turn it down 6 degrees when away or for nighttime.“

According to Young, these changes can save you up to 10% annually.

Using Appliances Inefficiently

These days, almost all appliances will have one (or more) energy-saving settings that you can use—so actually use them, but you need to put in more effort if you want to save big bucks this year.

“Keeping your energy bills low in winter is not just about possessing energy-efficient appliances,” Young says. “It is about utilizing them efficiently. Small things like using your thermostat efficiently, running full loads in washing machines and dishwashers, cleaning filters, and servicing your appliances can make a great difference.”

So don’t overload washers or dryers (and don’t underload them either), don’t prewash dishes, and make sure your refrigerator is evenly stocked so the temperature inside can be distributed well. These are small changes that will have a big impact.

Read more at the spruce

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If there is a home that you would like more information about, if you are considering selling a property, or if you have questions about the housing market in your neighborhood, please reach out. We’re here to help.

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