{"id":3207,"date":"2026-05-24T14:32:10","date_gmt":"2026-05-24T14:32:10","guid":{"rendered":"https:\/\/sandiegorelocationnews.com\/index.php\/2026\/05\/24\/zillow-discovers-positive-housing-market-shifts-for-homebuyers\/"},"modified":"2026-05-24T14:32:10","modified_gmt":"2026-05-24T14:32:10","slug":"zillow-discovers-positive-housing-market-shifts-for-homebuyers","status":"publish","type":"post","link":"https:\/\/sandiegorelocationnews.com\/index.php\/2026\/05\/24\/zillow-discovers-positive-housing-market-shifts-for-homebuyers\/","title":{"rendered":"Zillow discovers positive housing market shifts for homebuyers"},"content":{"rendered":"
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As a mortgage and real estate reporter, I spend a lot of my time tracking mortgage rates … even when I’m off the clock. Along with hiking and reading, I should add “checking mortgage rates” to my official list of hobbies.<\/p>\n

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The news surrounding mortgage rates has been pretty dismal over the last few months. Rates have been increasing overall, and if they inch down for a few weeks, they just bounce right back up.<\/p>\n

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I have a hard time maintaining my optimism when public figures, real estate agents, or even experts I generally trust say it’s still a good time to buy a house.<\/p>\n

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As a reporter, data and numbers are more likely to change my mind than sentiment. Thankfully, the real estate technology company Zillow has released data that has actually given me a hope for the current housing market.<\/p>\n

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There’s no doubt that mortgage rates are high. <\/p>\n

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Homebuyers should definitely understand and factor in rates before purchasing a house. But other aspects of today’s housing market are looking up for buyers.<\/p>\n

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High mortgage rates aren’t destroying the housing market<\/h2>\n

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Full disclosure: There is some bad news before we get to the good news. And you probably aren’t surprised that the bad news is…drum roll…mortgage rates.<\/p>\n

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The national daily average 30-year rate had spiked over the previous month. At one point, it reached 6.75%<\/strong>, which was a nine-month high, according to Zillow research from late May. <\/p>\n

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When I talk with mortgage experts, the bulk of the blame for increasing rates is usually placed on the Iran war. And this is largely true. The war has driven up oil and energy prices, which has a ripple effect on the economy.<\/p>\n

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Related: Mortgage rate experts send strong message as rates soar<\/strong><\/p>\n

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Inflation is an ongoing problem that pushes mortgage rates upward. Zillow points out that, according to recent inflation reports, both consumer and producer price increases surpassed economists’ expectations in April. <\/p>\n

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The Consumer Price Index (CPI) also revealed that shelter inflation, which measures the cost of residential housing services such as rent and utilities, rose more aggressively than expected.<\/p>\n

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High inflation and a stable job market have affected the Federal Reserve’s outlook for federal funds rate cuts. A rate hike<\/em> in 2026 is even up for discussion.<\/p>\n

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All of these factors have worked together to drive up mortgage rates.<\/p>\n

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It’s true that high mortgage rates have contributed to a less active spring housing market than once expected. But now onto the good news: The real estate market is actually doing pretty well otherwise.<\/p>\n

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“Despite this recent setback, the broader market dynamics have not entirely reversed,” Kara Ng, senior economist at Zillow, writes. “Affordability, available listing options, and negotiating power all remain more favorable for buyers today than they were at this time last year.”<\/p>\n

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Zillow pinpoints where inventory and home sales are surging<\/h2>\n

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The Covid pandemic helped mortgage rates plummet to below 3%, but it hurt most other aspects of the housing market, which has spent years trying to recover.<\/p>\n

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Well, the real estate markets in certain parts of the U.S. are finally hitting pre-pandemic norms again.<\/p>\n

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The typical home is selling after 17 days, which is close to pre-pandemic selling trends. Inventory has also recovered in 19 of the 50 largest U.S. metro areas, mainly in the South and West, according to a Zillow study.<\/p>\n

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More on mortgage rates and the housing market:<\/strong><\/p>\n

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