According to Compass, mortgage rates have dropped to their lowest level in over a year, helping to fuel renewed momentum in the housing market. The Federal Reserve’s second rate cut of 2025 has further supported buyer confidence and market stability. The number of homes going under contract rose 21% year-over-year, with buyer demand strengthening even as the market moves into its typically slower winter season.

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National and regional statistics are generalities, essentially summaries generated by thousands of unique, individual listings and sales occurring across different market segments. They are best seen not as precise measurements, but as broad, comparative indicators with reasonable margins of error. Anomalous fluctuations in statistics are not uncommon, and last period data should be considered preliminary estimates which may be revised in future updates. Different analytics programs sometimes define standard statistics – such as “active listings,” “days on market,” and “months supply of inventory” – differently: What is most meaningful are not specific numeric calculations but the trends they illustrate. Data from sources deemed reliable, but may contain errors, and subject to revision. All numbers to be considered approximate, and how these analyses apply to any particular property is unknown without a specific comparative market analysis.