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69 July 2025 J O U R N A L July 2025 » themortgagepoint.com "Whether it's selecting the perfect floor plan, understanding financing options or choosing design features, our goal is to guide buyers through the journey with confidence," McGibney said. "This year's survey reinforces just how important that support is, especial- ly when so many are feeling uncertain about the homebuying process." HOME LISTINGS HIT RECORD HIGH AS SELLERS RETURN TO MARKET A ccording to a recent Redfin survey, there are $698 billion worth of properties for sale in the U.S., which is the greatest dollar amount ever and up 20.3% from a year ago. The examination of Redfin.com listings dating back to 2012 served as the basis for the report. Redfin added up the list prices of all active U.S. listings as of the last day of each month to determine the total dollar value of all inventory on the market; the most recent month for which data is available is April 2025. In the study, "value" and "list price" are synonymous; that is, when the term "to- tal home value" is mentioned, referring to the total of all list prices. "A huge pop of listings hit the market at the start of spring, and there weren't enough buyers to go around," said Matt Purdy, a Redfin Premier agent in Denver. "House hunters are only buying if they absolutely have to, and even serious buyers are backing out of contracts more than they used to. Buyers have a window to get a deal; there's still a surplus of inventory on the market, with sellers facing reality and willing to negotiate prices down." Due to a combination of rising home-sale prices, slowing demand, and expanding inventory, the total value of U.S. home listings is at an all-time high: • In the market, there are far more sell- ers than customers. With the mort- gage-rate lock-in effect diminishing and homeowners attempting to cash out owing to economic uncertainties, the total number of properties on the market countrywide increased 16.7% year-over-year in April to reach its highest level in five years. • The number of new listings rose 8.6% to a three-year high. • Simply put, homes are taking longer to sell. In April, the average home sold took 40 days to enter into a contract, which is five days longer than it was a year earlier. • Additionally, the percentage of inven- tory that has been on the market for more than two months is rising. • Record-high monthly housing prices and general economic volatility are causing a decline in home sales, and Redfin brokers across much of the na- tion indicate that prospective buyers are pulling back. • In April, the median price of a home sold in the U.S. increased 1.4% year- over-year. It should be noted that the overall value of inventory has increased by 20.3% year-over-year also, indicating that the number of listings has increased more than prices in recent years. Inventory Remains Stale as Buyers Edge into Market According to a different Redfin survey, the current housing market has almost 500,000 more house sellers than buyers. There are twelve figures worth of unsold inventory on the market, which may be explained by the fact that so many homes are being listed but no one is interested in buying them, as well as the fact that prices are constantly rising. Compare today's inventory total to the housing market during the pandem- ic, which was characterized by limited supply. The total listing value fell to $309 billion in January 2022; the lowest amount recorded in Redfin's history since 2012. At the beginning of 2022, Brought to you by & YOUR TRUSTED SOURCE FOR MORTGAGE BANK ING AND SERVICING NEWS JULY 2024 Magazine White House Main Street America TO FROM THE As the November elections near, what ripple effects will the next Administration have on the housing industry? MortgagePoint gathered a panel of experts to dig deeper into the impact of the Presidential Elections and potential changes in the White House. Subscribe to MortgagePoint and MortgagePoint Digital now! Visit themortgagepoint.com/mp-access to take advantage of our special offer! Experts you trust. People you know. News you want. MortgagePoint is putting essential mortgage market news at your fingertips with our new digital edition, now available online via your smartphone, tablet, or computer. Enjoy the magazine at your desk, and tap into MortgagePoint Digital's easily accessible platform anywhere, anytime. Committed to giving originators, servicers, and all lending professionals access to smarter perspectives, MortgagePoint believes it's time to think differently about the mortgage industry. Because the American Dream is evolving . . . are you? FEATURE STORY THE BEST SOLUTION IS NOT ALWAYS THE SHINY NEW TOY While it can be debated as to how much default and foreclosure activity lies ahead, default servicers must carefully examine their tech systems to keep ahead of the curve. FEATURE STORY DRIVING GROWTH: LEVERAGING HOME EQUITY TO EXPAND LOAN OFFICER OPPORTUNITIES In a tight market, LOs seeking to diversify their offerings are turning to home equity products to expand their role and become a financial guide for life. COUNSEL'S CORNER FACING THE FORECLOSURE AND BANKRUPTCY CHALLENGES OF TODAY Robert S. Kahane, a foreclosure and bankruptcy attorney with more than 30 years under his belt, discusses current compliance issues related to loan servicing process enhancements. EXPERT INSIGHTS TONY JULIANELLE, CEO OF REAL ATLAS ESTATE discusses current market trends and the forces that will shape the landscape in the industry. ALSO IN THIS ISSUE: Brought to you by & YOUR TRUSTED SOURCE FOR MORTGAGE BANK ING AND SERVICING NEWS AUGUST 2024 Magazine The Burden of Proof MortgagePoint profiles Bron, Inc., a company that has carved out a unique niche with a focus on crucial but often-overlooked tasks such as managing registrations, utilities, and HOA verifications. TO YOUR TRUSTED SOURCE FOR MORTGAGE BANK ING AND SERVICING NEWS OCTOBER 2024 Magazine The Industry Leaves Its Mark at Five Star Conference Exclusive coverage from this year's Five Star Conference, including profiles of the Lifetime Achievement honoree, the Women in Housing Leadership Award recipients, and more. THE 2024 FIVE STAR CONFERENCE & EXPO SEPTEMBER 24-26, 2024 DALLAS, TEXAS