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Tariffs, Rates, and What It Means for Spring Buyers

Tariffs, Rates, and What It Means for Spring Buyers

Plus, The Home Improvement Upgrades to Sell Your Home for Top Dollar, Rocket Companies Buyes Mr. Cooper, and Cost of Sitting on The Market Too Long.

Ralph Ragetté Jr
April 04, 2025 • Reading Time: 11 minutes

We're all closely watching how markets are reacting to the Trump administration’s newly imposed tariffs — but first, a few thoughts on March’s real estate activity.

Nationally, the market is moving — but prices aren’t surging.

For the first time this year, weekly home sales topped 2024 levels. Inventory is up 30% year over year. And the median home price? Just 1% higher than this time last year.^*

Locally, inventory levels remain nearly identical to last year.

Last month, 883 new listings came on the market in Westchester County — a slight uptick from the 878 in March 2024. That represents a modest 3.6% increase. But the median home price is up 9.47%.^**

More homes will hit the market as the season progresses.

If you’re buying this year, keep a close eye on new listings. The median days on market is still just 25 days — the same as last year.^**

*Altos Research, **OneKey^® MLS

Today’s Topics:

The impact of tariffs on mortgage rates and the spring market
Lifestyle upgrades to sell your home for more money
Rocket Companies is on a spending spree
Sellers: Days on market is a liability

Tariffs, Rates, and What It Means for Spring Buyers

President Donald Trump's recent "Liberation Day" tariffs are expected to impact the U.S. housing market by increasing construction costs and influencing mortgage rates. Following the announcement, mortgage rates fell sharply, with the average 30-year fixed rate dropping 12 basis points to 6.63%—the lowest since October. This decline reflects a market shift as investors moved from equities into U.S. Treasury bonds, which typically guide mortgage rates. At the same time, the tariffs are projected to raise new housing costs, with the National Association of Home Builders (NAHB) estimating a $9,200 increase per new single-family home due to higher prices on imported materials like lumber, appliances, and fixtures.

Ralph’s Take

Mortgage rates are expected to remain unpredictable as countries weigh their responses to the newly imposed tariffs. Competing economic forces are pulling rates in different directions. Slower growth, rising recession risks, and stock market declines are pushing bond yields — and mortgage rates — lower. Meanwhile, the NAHB is seeking tariff exemptions to ease the impact on builders and buyers. We may see a lively spring market — but economic headwinds could still disrupt momentum.

Westchester Weekly Market Tracker 📈

‘Coming Soon’ Listings: 36 ↑+6
New Listings: 288 ↑+50
Price Reductions: 53 ↓-14
Pending Sales: 199 ↓-7
Closed Sales: 123 ↑+5

💰 Highest Sale: 4 Holly Lane, Rye: $4,675,000 (94% of ask in 48 days)

_{Property Type: Single-Family. OneKey MLS, Inc. 2/28/25 - 4/4/25.}

Steam Showers, Sub-Zeros & Pinot Noir

We talk a lot about square footage, layout, and location. But sometimes, it’s the little luxuries — the ones buyers feel more than they see — that quietly seal the deal (and sweeten your sale price). Zillow recently crunched the data and found listings that mentioned certain lifestyle upgrades sold for significantly more than expected. Here are five features that made the biggest impact — and what it might take to bring them into your own home.

Ralph’s Take

I’ve walked through thousands of homes in Westchester — and one thing is consistent: homeowners always ask me what improvements will add the most value. Here’s the honest answer — it depends. The value of an upgrade is tied tightly to location, price point, and timing. The biggest mistake I see? Over-renovating for the neighborhood. If you put a $200,000 kitchen into a $700,000 home in a block of $750K comps, you’re not getting that money back. Stick to updates that enhance function, flow, and first impressions. Refinish floors, repaint walls, tidy the yard. Think clean, neutral, and bright. And if you’re unsure what’s worth doing — call or text me.

Rocket agrees to acquire Mr. Cooper weeks after Redfin deal

Rocket Companies just announced a $9.4 billion acquisition of Mr. Cooper, a major mortgage servicer, shortly after striking a $1.75 billion deal to acquire Redfin. These moves mark a bold effort by Rocket to vertically integrate the entire residential real estate process, from home search to mortgage origination and servicing. With this consolidation, Rocket will control a significant portion of U.S. mortgage servicing and is positioning itself to compete more directly with Zillow and CoStar.

Ralph’s Take

With its latest acquisitions, Rocket isn’t just expanding — it’s reimagining the real estate experience. By combining Redfin’s search platform, Rocket Mortgage’s lending, and Mr. Cooper’s servicing, they now cover nearly the entire buyer journey. These moves make Rocket a serious challenger to giants like Zillow and CoStar. And with $2.1 trillion in loan volume under management — servicing 1 in 6 U.S. mortgages — Rocket is planting its flag as a major force in the housing market.

The Longer a House Sits, The Less It Sells For

Overpricing your house could cost you more than you think.

Homes that sit on the market tend to sell for less — and it usually comes down to pricing. When a property is listed at or just below market value, it often sells quickly, sometimes with multiple offers. But overprice it, and things stall. Interest fades, and sellers end up cutting the price or accepting less. Today’s buyers are savvy. With market data at their fingertips, they know when a price is off — and many won’t bother engaging with a seller who seems unrealistic.

Ralph Ragette teaching a first-time homebuyer course

First-Time Home Buyer Seminar

Thank you to everyone who joined us at our homebuyer seminar at M&T Bank this week — it was a pleasure connecting with so many future homeowners.

And a special thank you to my friend, whom I first met 16 years ago while he was searching for his first home to buy. Since then, I’ve had the privilege of helping him twice — and this week, the honor of being invited by him to speak. I’m grateful for the full-circle moment! Thank you, Alex. ✌️