🏡 Weekly Market Memo | December 15, 2025

Let’s talk about what the housing market did last week—spoiler alert: it moved about as fast as someone getting off the couch after a second plate of Christmas cookies.

Showing activity was down 22.9% compared to last year.
No panic required. This is mid-December doing exactly what mid-December does. Buyers are distracted, sellers are tired, and everyone’s calendar is full of parties, travel, and “we’ll deal with that in January.”

That said, not all price points hit the snooze button equally.

Homes priced $800K–$1M held up the best, with showings down just 9.8% year over year. Translation: serious buyers with solid finances are still out there—they’re just choosier and wearing nicer boots.

Meanwhile, homes priced $300K–$400K still dominate the action, accounting for 29.1% of all showings, even though activity in that range dipped 16.1%. Entry-level and mid-range buyers never fully leave the market—they just scroll Zillow more quietly.

At the top end, listings over $1M made up only 2.3% of showings, which tells us luxury buyers are in full “prove it to me” mode right now.

As for financing, mortgage rates averaged 6.3% nationally. Not thrilling, not shocking—just baked into the math at this point.

Bottom line:
This market isn’t broken. It’s just full, tired, and wearing elastic waistbands. The buyers who are active are thoughtful, prepared, and ready when something genuinely compelling shows up.

If you’re thinking about buying or selling in early 2026, now is the time to sharpen your strategy—before the New Year’s motivation kicks back in.