Mid-Year Finger Lakes Housing Forecast for Buyers and Sellers in 2025

We’re now in the middle of 2025, and the housing market is moving at a slightly slower pace than it was earlier this year. But that doesn’t mean activity has stopped. Homes are still being listed and sold, just not as quickly as before.

Longer days on market, but not a downturn. Homes might stay on the market a little longer. Instead of selling in just a few days, listings are sticking around for four to five days or more. That’s not a slowdown in demand; instead, it’s giving both buyers and sellers more time to make decisions without feeling rushed.

Rates are holding steady. Mortgage rates are hovering around 6%. That’s higher than many buyers would like, but it’s not stopping them. Buyers are still getting pre-qualified, and lenders are continuing to close deals. The market might feel quieter, but deals are still getting done.

Will home prices drop? Some buyers are waiting, hoping prices will drop. But most experts say prices will keep rising slowly. Industry experts are projecting price growth of around 3% to 4% for the rest of the year.

The National Association of Realtors predicts a 3% increase in home values. Only a few, like Zillow, are expecting a -1.9% drop. In short, waiting for a major price drop could mean missing the market altogether.

 

What does this mean for homebuyers and sellers? If you’re a buyer, now’s a good time to sit down and explore your budget. Rates are steady, inventory is healthy, and prices are growing at a manageable pace.

If you’re a seller, you might want to list your home now before school starts and schedules get packed again. Homes are still moving, and that likely won’t change soon.

If you’ve been sitting on the sidelines, now’s a good time to explore your options. Whether you’re buying or selling, I’m here to talk it through. Give me a call at (607) 795-2904 or vickischamel@kw.com. I’d be happy to talk it through with you.