Today's Market News:
Neighborhoods Without Neighbors: Homeowners Seek Connections
A recent survey of mortgage loan borrowers found that although many want to buy a home because they're seeking connections with neighbors, these connections are often difficult to find.
Nearly eight in 10 Americans say strong neighborhood connections improve their quality of life, yet only about three in 10 say they actually know their neighbors. This disconnect is affecting how borrowers think about their current home, and their plans for future moves.
The survey found that only 17% of the respondents said that they actively seek interactions with their neighbors, even though many more — 68% — said they've received help from a neighbor. Only 25% of respondents said social media helps them connect with neighbors.
Helping your buyers solve this connection problem can do more than close more sales; it can also earn you valuable referrals. Here are some ways you can do this before and after moving in.
- Find some community events that may interest your buyer clients. Attending one or more gives them a chance to "try out" the neighborhood before they commit to buying a home.
- Invite neighbors to Open House events. They may have a friend or family member who is house-hunting and are already familiar with the neighborhood's vibe and amenities.
- With your client's permission, arrange a "meet and greet" event after they've moved in. Invite neighbors to share snacks, either indoors or in the backyard.
Data Suggests That the Market is Resetting, Not Rebounding
The latest Mortgage Monitor report from data analytics giant Intercontinental Exchange, Inc. (ICE) suggests a housing market that is stabilizing structurally this spring. However, this doesn't translate into a noticeably easing market.
According to ICE, early spring conditions are a combination of firmer home prices, improving inventory levels, and a modest reset in affordability, following the sharp deterioration seen after mortgage rates rose in response to the Iran conflict.
It reflects a shift toward borrowers adjusting their expectations, rather than gaining meaningful purchasing power.
The report also highlights continued inventory growth which has created buyers' markets in many metro areas. This has given buyers more time to evaluate their options, although monthly payments are elevated, and marginal borrowers still face challenges when qualifying for financing.
If you're looking for ways to succeed during this market reset, contact me to discuss possible strategies. Together, we can assist borrowers with locating opportunities within their area.2
Zillow Names Jacksonville Best Metro for First-time Buyers
Recently, Zillow named Jacksonville, Florida as No. 1 among the 50 largest U.S. metros for first-time buyers. Ranked 2nd to 5th: Birmingham, Alabama; Atlanta, Georgia; and two Texas metros: San Antonio and Houston.
Sun Belt metros dominated this list, particularly because their higher inventory levels provide more options and affordability to first-time buyers.
In addition, these metros offer lower rent burdens, more affordable listings, and less competition. These factors help create an affordable path for prospective first-time buyers, with up to 68% of listings considered affordable to a median-income household.
Buyer-friendly metros aren't limited to the Sun Belt. St. Louis, Missouri, Detroit, Michigan, and Baltimore, Maryland are also rated "first-time buyer friendly".3
Empty Nesters Hanging onto Their Nests
One widely held belief about empty-nesters — couples whose grown children had departed the family home — was that they would be compelled to downsize. However, Census data from 2024 disproved this.
Empty-nest Baby Boomers currently own many more of these homes than younger families with children. It's a mismatch between those who own homes with three or more bedrooms, and who need them.
While Boomers own 28% of larger homes, Millennials (aged 30 to 45 this year) with families own just 16% of these. Younger, Generation Z parents own less than 1% of the nation's large homes.
While some Boomers are keeping their homes for personal reasons, many have little financial incentive to move out, especially in today's rate environment. Others still have adult children living at home.
In addition, those who consider downsizing often find that there's a limited inventory of suitable properties, and those for sale are often priced above their home buying budgets.4
Consumer Confidence Ticked Up in March
The Conference Board Consumer Confidence Index® edged up by 0.8 points in March to 91.8 (1985=100), from 91.0 in February 2026. The Conference Board asks respondents about a variety of topics, including business, the labor market, inflation, stock prices, and future buying plans.
The Present Situation Index — based on consumers' assessment of current business and labor market conditions — increased by 4.6 points to 123.3.
The Expectations Index — based on consumers' short-term outlook for income, business, and labor market conditions — declined by 1.7 points to 70.9. This suggests that respondents are concerned about a possible recession, as Index numbers below 80 suggest future economic challenges.
Age and income factors affected different respondents' outlooks. Respondents under 35 were the most optimistic, while those 55 and over were the most pessimistic. When sorted by their income, six out of eight groups reported lower levels of confidence. Only consumers earning $25,000-34,999 and $125,000 and over were somewhat more optimistic.5
Sources: 1nationalmortgageprofessional.com, 2nationalmortgageprofessional.com, 3zillow.mediaroom.com, 4redfin.com, 5conference-board.org
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