June 4, 2025The National Association of REALTORS® reported that home prices continued to rise in the first quarter of 2025. The national median price rose 3.4%, year over year, to $402,300.
Monthly mortgage payments on a single-family home in the first quarter increased 4.1% to $2,120 compared to $2,036 from a year ago. The qualifying median family income fell to $101,743 in the fourth quarter of 2024, compared to $101,856 in the same quarter of 2023, but was $97,731 a year ago. The effective 30-year fixed mortgage rate increased to 6.90% in the first quarter of 2025, compared to 6.83% one year ago. Median family incomes rose to $104,281 in the first quarter of 2025, compared to $99,798 a year ago.
No, Feds Do Not Cut Interest Rates Today
