September’s housing market offered some telling signals for anyone navigating today’s real estate landscape. For the first time in eight months, pending home sales dipped slightly on a yearly basis, a shift reflecting how higher borrowing costs are slowing buyer momentum. Alongside that, contract signings softened, the average home lingered on the market for 60 days, and mortgage rates have climbed from around 6% in late Q1 to the high-6% range now.
These changes have given buyers a bit more negotiating power—median list prices edged down to $424.5K, about 20% of listings saw price cuts, and delistings have fallen compared to last year. Active inventory also rose roughly 4%. Yet, even with more homes on the market, national inventory remains about 11% below what we saw before the pandemic, highlighting a stubborn housing shortage just under the surface of current buyer caution.
As we guide our clients through this landscape, we’re closely watching trends in seller delistings, pricing strategies, and how quickly different regions are adjusting to firmer borrowing costs. Our team’s approach is always tailored—whether you’re buying, selling, or investing, we believe your strategy should fit the moment and the data, not just the headlines.
Leave a Reply