House hunting? Here’s what to know as the spring buying season arrives.

Spring is traditionally a busy time for the real estate market, and this year is shaping up to be no different. Aspiring homebuyers can expect a slightly more favorable market compared to previous years, with slower growth in home prices and an increase in listings.

According to data from Redfin, median home prices rose at an annual rate of 1.1% in January, down from 4.1% a year ago. This slower growth in prices, coupled with lower mortgage rates, is giving homebuyers more purchasing power and confidence, according to Daryl Fairweather, chief economist at Redfin.

While mortgage rates recently ticked back up to 6% due to inflation fears linked to the Iran war, they are still considerably lower than they were in March 2025. Experts predict that home prices are likely to remain stable heading into spring, with mortgage rates hovering around 6%.

The average median sales price for a home in the U.S. was $405,300 in the fourth quarter of 2025, about 2% lower than the same time last year. Kate Wood, a lending expert at NerdWallet, notes that the real estate market’s condition still heavily depends on location.

One positive sign for homebuyers is an increase in the ratio of sellers to buyers. Redfin reported that sellers now outnumber buyers by about 600,000, giving house-hunters more options and negotiation leverage. However, experts caution that inventory remains tight due to years of underbuilding, with a shortage of affordable homes still plaguing the market.

Despite some improvements, the number of new listings decreased by 6.1% in February compared to the previous year, and houses are sitting on the market for longer. Inventory is slowly improving, but it’s a gradual process, according to Wood.

Joel Berner, a senior economist at Realtor.com, notes that inventory remains most limited in the Midwest and Northeast, which have not fully recovered from the post-pandemic buying frenzy. The South and West regions offer more options, with prices even falling in some areas.

Cities like San Jose, Seattle, and Portland experienced the largest growth in new inventory last month, according to Redfin. Jason Waugh, president of Coldwell Banker, expects the combination of lower interest rates and stabilizing inventory to lead to modest sales growth and a more affordable market.

Overall, the spring house-hunting season is looking promising for homebuyers, with a more balanced market and increased purchasing power. It’s a good time to keep an eye on listings and take advantage of the favorable conditions while they last.