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Buying & Selling

Don’t Sweat Summer Homebuying Season

Read Time: 3 Minutes Date Published: June 23, 2025
Topics:
Buying A House Housing Market Pre-Approval Housing Supply

As the days get hotter, some homebuyers may be hoping to snag a house before the school year starts back up. Yet competition for homes may be high, so you’ll want to be sure you can really get a seller’s attention once you’re ready to make an offer.

We’ve got tips for homebuyers looking to seal the deal on their dream home this season.

Summer Housing Market Dynamics

Click image below to enlarge.

Chart showing different market conditions that vary during the months of summer

Historically, peak buying season has come during the spring months of April to June, according to the National Association of Realtors®.1 But demand can carry over from spring into the summer months, fueling competition between buyers. By late summer—August—demand usually cools off some.2

This year’s market has stayed relatively cool, with many potential buyers waiting to see what the economy might do before making a move.3 However, housing market dynamics may vary significantly depending on where you live.

If you’re trying to lock in a house in a competitive market, you may make your bid on a home stronger by securing pre-approval.**

Why Homebuyers Should Get Pre-Approved

If you’re hunting for a home, pre-approval is beneficial for several reasons:

  • Know What You Can Afford: Pre-approval tells you exactly how large a loan you can get, helping you sharpen your home search.
  • Show Sellers Your Buying Power: Once you make an offer on a home you love, showing the seller a pre-approval letter lets them know you’re a serious buyer with the financials to back up your offer.
  • Streamline Your Mortgage Application: Completing pre-approval means you’ve already done much of the work and provided much of the necessary documentation to secure your mortgage.

Is It Hard to Get Pre-Approved?

Getting pre-approved is simple and typically only takes a few minutes. Reach out to a Newrez team member and provide proof of your income and assets. From there we will perform a full credit-check and, if you qualify, we will pre-approve you for a loan.

Pre-approval means you are conditionally approved for a loan. Conditions of final approval include the execution of a home purchase and appropriate appraisal and title documentation.

Navigate the Housing Market with Confidence

Searching for the right home can be exciting, but a bit nerve-wracking. If you’re ready to lock in on a new home, pre-approval may help you narrow down your search and make a persuasive bid to a seller.

Want to get started on your pre-approval? Reach out to a Newrez mortgage expert today.

 

National Association of Realtors® is a registered trademark of the National Association of Realtors and is not affiliated with Newrez LLC.

References:

1 Navigating the Housing Market: A Seasonal Perspective

2 https://www.forbes.com/advisor/mortgages/best-time-to-buy-a-house/

3 Rising Mortgage Rates and Recession Fears Stall a Fragile Housing Market - The New York Times

Learn more in our other educational series.

We’ve assembled a treasure trove of jargon-free information to demystify home-financing and arm you with valuable insights and actionable options.

Browse our complete library of resources

Why Newrez?

Newrez believes the lending business shouldn't just be about home loans - it should be about homeowners. That's why our employees get to know our customer's real needs, through final closing, and beyond.

Industry leading loan options
Simple pre-qualifications and application processes
Loans for everyone, from seasoned investors to first-time buyers
Putting power back into underserved communities

Disclosures

†By refinancing an existing loan, the total finance charges may be higher over the life of the loan.

††The rate on your existing mortgage will not change. The Newrez Home Equity Loan program requires borrower to obtain a second mortgage at current market rates. Loan amount based on underwriting guidelines. Minimum 660 credit score. Minimum and maximum loan amounts apply. Program financing only available on properties with one existing mortgage lien and subject to maximum loan-to-value ratio. Not available in all states or territories. Other terms and restrictions apply. Please contact us for more information.

^ This HELOC is an open-end line of credit, available on owner occupied properties, where 75% of the approved full credit limit (minus the origination fees) will be drawn at the time of closing. Additional draws may be available after a 90-day period within the first 3 years not to exceed the available credit limit. Actual rates available to you may vary based on several factors including your credit score and combined loan-to-value. Loan amounts range from $50,000 to $350,000. We may determine home value and resulting equity through independent data sources and automated valuation models. An appraisal may also be required. Only available for eligible borrowers and property types. Not all applicants will be approved, pre-approval is based on data you have provided and certain assumptions that must be verified and subject to underwriting approval. Not available in all states or territories. Contact Newrez for more information.

This is not a commitment to lend. All loan programs are subject to credit, underwriting, and property approval. Programs, rates, terms and conditions are subject to change without notice. Other restrictions apply.