Is Now a Good Time to Buy a Home in Clarkston, Michigan? July 2025 Market Insight
Erik Gascho • July 14, 2025
Is Now a Good Time to Buy a Home in Clarkston, Michigan?
The question on everyone's mind lately:
“Should I wait to buy a home, or go for it now?”
If you’re in Clarkston, Lake Orion, Waterford, or the surrounding Oakland County area, here’s what you need to know this July 2025 — from a local mortgage advisor’s perspective.
📉 Mortgage Rates in Mid-July 2025: What’s Happening?
Mortgage rates have inched slightly downward this month after holding steady through most of Q2. While we’re not yet back to the sub-5% days, we’re seeing some lenders offering rates in the mid-5% range for well-qualified buyers — especially if you're locking in on a shorter-term ARM or buying points upfront.
💡 Pro Tip: Many buyers don’t realize that locking in today and refinancing later (as part of a smart plan) often beats waiting on a “perfect” rate that may never come.
🏡 Clarkston Area Housing Market Snapshot – July 2025
Here’s what’s happening right here at home:
Inventory is slowly improving, especially in the $350K–$500K range.
Homes are sitting a bit longer on market compared to 2023–2024, giving buyers more breathing room.
Seller concessions are back — yes, some sellers are now offering help with closing costs or rate buydowns.
New construction in areas like Independence Township and Lake Orion is picking up steam — often with built-in financing incentives.
👨👩👦👦 Who This Market Benefits Most Right Now
✅ First-Time Homebuyers: With less competition and more seller flexibility, this is a great window to enter the market. FHA, VA, and 3%-down conventional options are all active.
✅ Move-Up Buyers: If you’re selling a starter home and upgrading, now may offer the best trade-up opportunity in years — especially with rates expected to fall after home prices rise.
✅ Buyers Waiting for Rates to Drop: Keep in mind: when rates do drop significantly, competition will explode — pushing prices and bidding wars right back up.
📊 “Date the Rate, Marry the Home” – But Plan It Smart
At NEO Home Loans here in Clarkston, we build personalized mortgage strategies that include rate monitoring and refinance planning for every buyer. That means if you buy now and rates drop later — we’ve already got a plan in place to help you refinance.
We call it the Perfect Loan Promise — and it means our clients never overpay on their mortgage, ever.
🙋♂️ Let’s Talk About Your Situation
Whether you're just getting started or already pre-approved, I'm here to help you understand:
How much house you can comfortably afford
What your monthly payment would look like with today’s rates
Which loan strategy protects you long-term — not just today
Schedule a quick call or shoot me a message. There’s no pressure, no sales pitch — just good advice.
📍 Serving Clarkston, Lake Orion, Oxford, Waterford, and the greater Oakland County area
As your local Clarkston mortgage advisor, I specialize in helping families and first-time buyers navigate today’s market with clarity and confidence.
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(July 2025 Mortgage Market Insight from Clarkston Mortgage Advisor Erik Gascho) If you’re in Clarkston, Michigan—or anywhere in Metro Detroit—you’ve probably noticed the housing market shifting again. As we settle into the heart of summer 2025, many families are wondering: “Should I buy now… or wait?” “Have rates finally peaked?” “Is it smart to refinance in this market?” Let’s take a clear, honest look at where things stand right now—without the hype. 📉 Mortgage Rates Are Easing… But Still Volatile After several years of interest rate hikes aimed at battling inflation, mortgage rates in Michigan have slowly started to tick down. As of mid-July 2025, we’re seeing: 30-Year Fixed Rates averaging between 6.25% and 6.75%, depending on credit and down payment. 15-Year Fixed Rates closer to the 5.75%–6.25% range. FHA and VA Loans offering slightly better pricing for qualified buyers. While these aren’t the ultra-low pandemic rates of 2020–2021, they are significantly better than the 7–8% range we saw just last fall. 🏠 For Buyers: Is It Smart to Buy Now? Here’s the truth: you don’t marry the rate—you marry the house. With inventory creeping up slightly across Oakland County and competition softening, buyers now have more room to negotiate, especially on price or concessions. Local Homebuyer Tip: In Clarkston, Waterford, and Lake Orion, homes are sitting just a little longer on the market than they were earlier this year. That gives you leverage—if you're pre-approved and ready. If you’re a first-time homebuyer in Michigan, now might be the perfect time to enter the market before rates drop further and competition spikes again. 🔁 For Homeowners: Should You Refinance? If your current mortgage rate is above 7%, it’s definitely worth having a conversation. But here’s where it gets strategic—refinancing isn’t just about rate: Are you carrying high-interest credit card or personal loan debt? Are you planning home improvements? Are you going through life changes like divorce, retirement, or sending kids to college? Refinancing can help create monthly cash flow relief, even if the rate savings is modest. My team and I specialize in Total Cost Analysis reports that show you the real math over 5, 10, or 30 years—not just a quick monthly number. 🎯 The Bottom Line: What Should You Do Right Now? Every family’s financial situation is different—and the market is changing week by week. That’s why we offer what we call a “Dreams & Goals” Mortgage Planning Session. It’s not a sales pitch. It’s a personalized look at how your mortgage fits into your bigger financial life. ✅ Buying your first home? ✅ Thinking of moving to a better school district? ✅ Want to free up monthly cash flow or build equity faster? Let’s make sure your mortgage strategy is aligned with your life goals.
