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U.S. Home Sales Plummet Amid Economic Uncertainty and High Prices

5/29/2025

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Summary

Home Sales Decline

Existing home sales in the U.S. dropped 0.5% in April, marking the lowest level since 2009.
The median home price hit a record $414,000, reflecting a 1.8% increase from last year.
Unsold inventory surged 20.8% year-over-year, offering more choices for potential buyers.
Economic uncertainty and high mortgage rates are limiting homeownership opportunities for many.
First-time buyers represented 34% of sales, the highest proportion since July 2020.

Summary

Ironstone Launches HomeStart

Ironstone Building Co. in London introduced the HomeStart program, providing first-time homebuyers with zero-interest loans up to $100,000.
This initiative targets rising unsold inventory and housing affordability issues.
Buyers can lower their initial payment on a $700,000 home from $140,000 to $40,000.
The loan remains interest-free for the first 10 years, then shifts to second mortgage rates.
Buyers can receive 25% loan forgiveness if they buy a second home from Ironstone within five years.

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Home Sales Decline

Existing home sales in the U.S. dropped 0.5% in April, marking the lowest level since 2009.
The median home price hit a record $414,000, reflecting a 1.8% increase from last year.
Unsold inventory surged 20.8% year-over-year, offering more choices for potential buyers.
Economic uncertainty and high mortgage rates are limiting homeownership opportunities for many.
First-time buyers represented 34% of sales, the highest proportion since July 2020.

1 / 2