Homebuying Season Arrives Amid Rising Rates

Spring marks the traditional start of homebuying season, yet elevated mortgage rates and tight inventory cast a complicated picture. Home prices, while no longer surging like in 2021 and 2022, remain stubbornly high in many regions. Sellers locked into ultra-low rates are often hesitant to list, limiting new supply hitting the market. Buyers who can handle higher borrowing costs may find slightly reduced competition, plus opportunities for seller concessions. Economic uncertainty—fueled by tariff disputes and cautious consumer sentiment—further cools the once-frenzied pace. Though conditions are less cutthroat than during peak bidding wars, financing a purchase still stretches many budgets.