High mortgage rates in the U.S. have significantly impacted the housing market, leading to decreased affordability and altering buyer strategies. As of March 2025, the average 30-year fixed mortgage rate stands at approximately 6.67%, a notable increase from previous years. This rise has resulted in higher monthly payments, pricing many potential buyers out of the market.

Despite a sluggish start to 2025, real estate experts expect home sales to rebound this spring. Factors such as falling mortgage rates, increased housing inventory, and demographic shifts are expected to invigorate the market. While challenges such as affordability remain, the upcoming season may offer new opportunities for both buyers and sellers.