CNBC Housing Market Survey: Real Estate Agents Report a Balancing Market

Q4 2025 Housing Market Trends

• 📊 Mortgage rates remained stable in Q4 2025, hovering between 6.2% and 6.4% for a 30-year fixed.
• 🏠 A significant shift occurred as more real estate agents surveyed in Q4 reported a balanced market, compared to a buyer's market in Q3.
• 📉 Consumer confidence declined due to growing job losses and uncertainty, impacting market momentum more than interest rates.

Seller Behavior and Market Adjustments

• ⚠️ Price cuts became more prevalent, with 92% of agents reporting at least one seller reducing their price, up from 89% in Q3.
• 📈 Nearly half of agents indicated that the majority of their sellers had to cut prices.
• ⏸️ Consequently, more agents reported having to pull homes off the market, with 51% doing so compared to 40% in the previous quarter.

Outlook for the Coming Quarter

• 🚀 Despite Q4 trends, a majority of agents (nearly 65%) are optimistic and expect sales to improve in the upcoming quarter.
• 📦 Increased inventory on the market is contributing to this improved outlook.
• 💡 Agents suggest consumers are beginning to adapt to current economic conditions, showing less uncertainty.

Market Dynamics and Seasonality

• ⚖️ The market is transitioning from a buyer's market, characterized by easing prices and more inventory, towards a more balanced state.
• 🗓️ While seasonality affects December, the survey focused on quarter-over-quarter shifts in agent sentiment, indicating a genuine change in market perception beyond typical holiday slowdowns.
• 🔮 The true impact of the spring market on inventory levels remains to be seen.