Even though we’re already well into Q2 of 2025, it’s worth taking a moment to reflect on the start of the year — a time marked by major shifts, legal updates, and evolving market trends across the real estate industry.
As you read through the highlights below, you might notice some familiar themes we first explored in our 2025 real estate market outlook. From interest rates and market activity to staffing shakeups and acquisitions, the first quarter of 2025 was certainly eventful!
Existing home sales slipped in March
Since Q1 of last year, there have been several changes in existing home sales. While the inventory of unsold homes is up to 8.1%, the median existing home sales price was up 2.7% from March 2024 to an all-time high of $403,700. March 2025 was also the 21st consecutive month of year-over-year home price increases.
Overall, existing home sales were down 5.9% from February, and were down 2.4% from a year ago. According to Realtor.com, March sales were at the slowest rate since 2009. Inflation and high mortgage rates were both contributing factors to the downward trend in existing home sales.
Mortgage rates hit a peak in January, followed by a five-month low
In January of 2025, mortgage rates hit a recent peak of 7.04%. Despite 30-year fixed mortgage rates dropping to an average of 6.65% in March — a five-month low — they have since climbed back up into the 6.8% range. “Home buying and selling remained sluggish in March due to the affordability challenges associated with high mortgage rates,” said NAR Chief Economist Lawrence Yun in a report from Realtor.com. According to a recent report in Forbes, experts predict that rates will likely stay in the mid-6% range throughout the rest of the year.
Rocket Companies acquires Redfin and Mr. Cooper
In early March, it was announced that Rocket Companies had entered into an agreement to purchase digital real estate brokerage Redfin. Just a few weeks later, it was announced that Mr. Cooper, one of the country’s largest home loan servicers, would also be joining Rocket Companies. As a company, Rocket’s combined servicing portfolio will amount to over $2.1 trillion in unpaid principal balance, or one in every six mortgages in the U.S.
According to Rocket Companies, the goals of these acquisitions are not only to increase the industry footprint of Rocket, but to drive purchase mortgage growth and to accelerate AI and technology applications for the company.
NAR lays off staff, appoints new senior leadership
Back in March, the National Association of Realtors® (NAR) announced major staffing changes. According to a press release from NAR, the organizational restructuring included 61 total positions — 41 current positions and 20 open roles. Amidst these layoffs, there were also several additions to the senior leadership team.
Jonathan Waclawski was promoted to general counsel and senior vice president, Legal. Three new additions also joined the senior leadership team, including Jarrod Grasso as senior vice president of industry relations, Sherry Chris as special advisor of brokerages, and Sharon White as chief human resources officer. These changes are just one chapter in a broader period of change at NAR, which is detailed here by Chicago Agent Magazine.
Landtrust is always looking to the future
Real estate professionals know that our industry is never boring — agents, brokers, and attorneys should always strive to stay ahead of the curve to leverage new tools and technology for our clients. As the year progresses, your trusted experts at Landtrust Title will continue to keep our fingers on the pulse of industry developments. If you need title experts you can count on, connect with Landtrust Title today — your Partner for Results.