I Want to Buy a House in 2025. How Much Should I Offer Over the Asking Price?
How much should I offer over the asking price in the current housing market? We talked to experienced agents to give buyers the inside scoop.
Your budget is $400,000. You see a house you love, and it’s listed at $400,000. Perfect match, right?
Not so fast.
If you’re thinking of buying a house in 2025, you’ve likely noticed the U.S. is experiencing a peculiar housing market that won’t allow home shopping to be that simple. You’ll need to budget for the anxiety question: “How much should I offer over the asking price?”
Work With a Top Agent to Nail Down Your Offer
Most people only buy one or a few homes in their lifetime, but experienced agents help buyers all the time. When it comes to making a solid offer on your dream home, who you work with matters.
As you consider this balancing act, here’s what potential home buyers around the country can expect in the coming year:
- The National Association of Realtors (NAR) predicts that existing home sales will increase 9% in 2025 and 13% in 2026.
- NAR also expects mortgage rates to stabilize near 6%.
- Freddie Mac is also forecasting an improved mortgage market in 2025.
“Maybe the worst is coming to an end,” said NAR Chief Economist Lawrence Yun. “Directionally, I think there’s going to be roughly a 10% boost of existing-home sales in 2025 and 2026.”
However, real estate is a highly local game, explains James Strum, a Richmond, Virginia-based agent with 18 years of experience. “There are so many variables. Is [the buyer] jumping into a beautiful, polished home with all the finishes in a hot market?” Or are you shopping in a city where homes have been sitting on the market for a while?
So what might a homebuyer expect to pay over asking price? Our expert-backed guide is here to help.
