Home sales impacted by lower mortgage rates in 2025 are up compared to last year according to HAR.com, reflecting an increase of 2 percent.
The current market offers high inventory and lower mortgage rates between 6.5-7 percent. Housing Expert Lance Thrailkill says this is great for both buyers and sellers. “If you are selling then you want to have a well finished product. If you are buying, then there is a real opportunity for homes that need work. So, people should realize hey, that is a way to create real value in my home, so I will tie a construction loan to my home purchase. Then you can really hit the top of the market when you go to sell or just enjoy the home.” Thrailkill said.
The housing expert says the market now will end up driving demand which will in turn drive demand and cause prices to go up. Right now, with our abundance of supply on the sales side of previously built homes because of the interest rates.
Thrailkill urges buyers to avoid being hyper focused on the mortgage rate and instead look at inventory, mortgage rate, as well as shorter contractual term such as a 5- or 10-year term versus a 30-year term.
“Look at being strategic- you’re still paying it based on a 30-year term you’re only locking in for a certain amount of time, when you feel like you hit the lowest rate you want, then you can always lock in and change it to be longer. People should be more strategic with the debt product they purchase. “He said.
Thrailkill also attributes the spike in home sales because of an increase in real estate trade transactions which is also contributing to the spike in home sales. Real estate trading is like swapping properties like buying or selling your home but having two transactions – instead of one. Each house is acquired by a separate buyer and seller.