If you've been feeling like the housing market just doesn't "feel" the same anymore—you're not wrong. According to the latest Bright MLS Market Survey, the real estate landscape across our region is undergoing a major shift.
We’re no longer in the market of bidding wars, frenzied buyers, and homes flying off the shelves in 24 hours. Instead, we’re seeing a market defined by uncertainty, hesitation, and need-based decisions—from both buyers and sellers.
Here’s what’s happening and why it matters if you’re thinking about buying, selling, or just staying informed.
📉 Buyers Are Pressing Pause—But Not Because of Price Alone
Bright MLS surveyed over 1,000 real estate agents across the Mid-Atlantic, and nearly three-quarters said they’ve worked with buyers who recently paused their home search. But unlike last year, these buyers aren’t walking away because they lost too many bidding wars.
Instead, they’re backing out because of general uncertainty about the market and broader financial stress—not just high home prices or mortgage rates.
🔹 In Q2 2024, 56% of buyers paused due to repeated offer losses.
🔹 In Q2 2025, that dropped to 32%, with more citing financial issues or market hesitancy.
So what’s the takeaway? Buyers today are more cautious, more intentional, and far less impulsive. They’re waiting for the right opportunity, not just any opportunity.
🛠️ Sellers Are Holding Off Too—But for a Different Reason
It’s not just buyers stepping back. Sellers are de-listing homes too—but not because they’re married to their low mortgage rates or can’t find a home to move to.
The number one reason? They’re not getting the price they want.
🔸 In Q2 2024, nearly 45% of sellers held off because they couldn’t find a new home.
🔸 In 2025, that dropped to just 21.7%.
🔸 Meanwhile, 19.3% of sellers pulled out because they weren’t happy with the offers they received.
As the market rebalances, pricing expectations are colliding with new realities. Sellers who want to attract serious buyers will need to price strategically—not nostalgically.
💼 Buyers Are Driven by Needs, Not Dreams
One of the most telling stats from the survey? Only 26% of buyers this year purchased because they were tired of renting or wanted to become homeowners—down from 31.4% last year.
Instead, purchases are being driven by life circumstances:
Family needs: Up to 20.5% (from 15.2% last year)
Job relocations: Up to 12.3% (from 10.7%)
Also worth noting: Only 37.4% of June’s home sales were to first-time buyers—the lowest share since Bright began tracking.
What This Means for You
For the first time since early 2023, agents are forecasting seller activity to outpace buyer activity. That means:
📉 More inventory could hit the market
💰 Home prices may soften in some local areas
🤝 Buyers will have more negotiating power
📊 Sellers need to be more competitive and realistic
Final Thoughts: Strategy Over Speed
Whether you’re buying, selling, or both, the key in today’s market is strategy over speed. That means:
Thinking long-term
Understanding local data
Working with a professional who understands the shift
If you’re unsure what your next move should be, I’m here to help you make sense of it all.
Have questions or want a personalized market update? Let’s chat. Whether you're on the sidelines or ready to jump in, now’s the time to stay informed and act wisely.
Sources:
Bright MLS Market Survey – July 25, 2025
www.brightmls.com/research