Here is your real estate market update and the top real estate news for June 6th, 2025:
Top Real Estate News (June 6, 2025):
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Sellers Start Holding Back as Market Demand Drags: Despite a 6.3% year-over-year increase in new listings over the past four weeks, late May experienced the most significant slowdown for that time of year in a decade. Elevated mortgage rates, high home prices, and economic uncertainty continue to deter buyers, leading to a decline in new listings in several major metro areas, including San Jose and multiple Florida cities.
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Luxury Housing Market Loses Spring Momentum: Zillow reports that the luxury housing market slowed in April, with financial uncertainty prompting many high-end buyers and sellers to delay transactions. Despite this slowdown, luxury home values are up 2.7% from a year ago, doubling the growth rate of the broader housing market.
Mortgage Rates (June 6, 2025):
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30-Year Fixed: 6.85%
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15-Year Fixed: 6.10%
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Jumbo 30-Year Fixed: 6.87%
These rates reflect a slight decrease from the previous week, influenced by a bond rally that has driven down mortgage rates.
10-Year Treasury Yield (June 6, 2025):
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Closed at: 4.40%
The yield on the 10-year U.S. Treasury note rose slightly from the previous day’s close of 4.37%, stabilizing after a week of heightened volatility as investors awaited the May jobs report.
See you tomorrow for more real estate news!
Chris
