March Housing Market Update

In March, existing home sales dropped by 5.9%, marking the slowest March since 2009. Homes are also taking longer to sell, averaging 73 days on the market so far in 2025—about 12 to 13 days more than the same period last year. This shift is creating a unique opportunity for buyers, especially on properties that have been listed for over 30 days, where seller concessions become more negotiable.Seller concessions can be a powerful tool, particularly when used to buy down interest rates—either temporarily or for the life of the loan. FHA loans allow up to 6% in concessions, while conventional loans allow 3% with less than 10% down, 6% with 10–25% down, and even up to 9% for down payments over 25%. These options give agents and buyers the flexibility to reduce costs and improve loan terms.Now is a strategic time for buyers to act before interest rates potentially drop further and competition increases. Educating clients on these opportunities can help them secure their dream home while inventory remains higher and sellers are more flexible.