Prices, mortgages, inventory and more. While we wrote about a lot this year, from social media to murder mysteries, these are the 10 words that came up again and again.
While many publications choose a word of the year each December, there’s no way we could encompass the complexities of the real estate industry with just one word. So, here are the 10 words that popped up over and over throughout the year, impacting agents and the buyers and sellers they serve.
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Along with each entry, you’ll also find a recent Inman story to add even more context and insight to your lexical review.
Prices
Home prices began to skyrocket during the pandemic and, while the trajectory has softened in 2025, they’re still holding strong. Although the past couple of years have seen plenty of talk about bubbles and affordability, prices are still on the upswing in many markets across the country.
READ MORE: If price is king, why do we even market new listings?
If pricing is the engine for selling a listing, Josh Ries writes, marketing is the steering wheel. Together, they keep the deal moving forward.
Mortgage
While mortgage rates are nowhere near the historic highs of the late 20th century, they still seem elevated when compared to the lows of the early 2020s. Potential buyers’ hopes lived and died with the movements of the mortgage market, and President Trump’s ongoing beef with the Federal Reserve this year stemmed largely from the institution’s handling of short-term interest rates, which influence mortgage rates.
READ MORE: Fed cuts rates for 3rd time in 2025, but might cut just once next year
The 9-3 split vote reflects differing views on whether the central bank’s biggest worry is inflation or rising unemployment, with data lagging after the government shutdown.
Inventory
The combination of high levels of home equity and low interest rates kept many sellers locked in over the past couple of years, but more homeowners started to explore the market in 2025. However, many of them were looking for top dollar for their homes, even when their local market didn’t support aggressive pricing — so inventory took repeated hits from delistings.
READ MORE: Listing leverage: How to win the game of securing sellers
Agents who wait for listings to fall in their lap are going to starve, Verl Workman writes. Agents who execute? They’ll own their markets.
Affordability
Affordability concerns have pushed first-time buyers to delay their purchases, and their median age is now 40. In addition, first-timers as a share of the market have fallen to nearly half the level we saw in 2008, according to data from the National Association of Realtors.
READ MORE: Falling mortgage rates are helping with affordability and starting to bring buyers back: ICE
Tighter inventories in some markets have helped firm up home prices in recent months, so many homebuyers will remain stretched unless mortgage rates keep falling.
Economy
This year was a tough one for the economy, with the impact of tariffs driving inflation and job losses causing uncertainty. For potential buyers, that was enough to stay sidelined, especially when combined with the one-two punch of high prices and high interest rates.
READ MORE: 6 housing market predictions for 2026, according to an economist
From mortgage rates to homeownership rates and more, Windermere’s Principal Economist Jeff Tucker provides insights tailor-made for 2026.
Mergers and acquisitions
The announcement of Compass’ proposed merger with Anywhere was the latest and largest salvo in an ever-escalating brokerage consolidation trend. How will it impact the agents involved and what will it do to smaller, indie brokerages? Only time will tell.
READ MORE: How boutique brokerages can thrive as big brands merge
Marketing and transformation experts Troy Palmquist and Lauren Henss discuss the future for smaller indie brokerages in the face of rampant real estate industry consolidation.
Data
This year, Inman leaned into the importance of data with the rollout of Market View and Market Trends, tools designed to help you visualize your market and track its movements over time. Drill down to the ZIP code level, and see how your micro-market stacks up to the country at large and to other micro-markets in your area.
READ MORE: The inventory surge is sputtering. See how your market stacks up
Markets that had been bright spots amid troubled times are now seeing new listings slow. Dive into the local data with Inman’s recurring series of interactive maps and charts.
AI
We’ve been talking about artificial intelligence for years at this point, but this year we began to see the potential of agentic AI for the real estate industry. Whether you believe AI is a tool or a replacement for agents, understanding its development and using it to add leverage to your business is a must, even if you don’t consider yourself a “tech person.”
READ MORE: Ridley founder says platforms, not agents, will eventually be at the center of the transaction
The self-sale company just secured new funding from backers, including Fifth Wall. CEO Mike Chambers says his company wants “to support agents” who are “unapologetically consumer first.”
Commissions
Ever since the buyer commission lawsuit settlement that kicked in last year, there has been speculation about the impact on agent pay. While industry watchdogs still think agents are paid too much, the data shows that commissions are holding steady after those big industry practice changes.
READ MORE: Buyer’s agent commissions see rebound in wake of settlement
The average buyer’s agent commission was 2.42 percent during the third quarter, which is still below averages from 2023, but higher than rates following the announcement about industry practice changes after the NAR settlement.
Agents
Of course, whether you’re talking about the market, clients or brokerage movements, it all comes down to agents. What’s best for you, what helps you succeed as you build your business and serve your clients — that’s what we’re all about. We’ve loved bringing you our best in 2025, and we look forward to adding value to your professional life every day in 2026.
READ MORE: At Inman, we believe in you, the real estate professional
Real estate embodies the American dream, and as a profession, it is filled with people fighting for their communities and their clients.
