Real talk—by late Q3, about 1 in 5 home listings across the country had a price cut, while less than 6% were pulled from the market entirely. Sellers are sticking it out, but many are rethinking their expectations as mortgage rates have crept up, with the 30-year fixed moving from the high-6% range early in the month to over 7% and higher by mid-month. Inventory ticked up to over 1.16 million homes, and the median listing price dipped slightly—down about 1% month-over-month to $419,300. That means buyers have a bit more wiggle room to negotiate, but new listings are still down around 2%, sitting near 395,000 for late Q3. Higher borrowing costs have kept many buyers cautious, even with more options out there.
I’ve always believed in honest conversations and meeting challenges head-on, whether it’s in real estate, life, or even a round of paddleboarding! As we roll into early Q4, there’s an eye on whether these tough conditions will lead to deeper discounts or longer selling times. If you’re weighing your next move, know that I’m here to help you make sense of the market, navigate shifts, and—most importantly—feel confident about your decisions. Let’s embrace the changes together and find your best path forward!
Leave a Reply