As someone who truly enjoys guiding my clients through every twist and turn of their home journey, I’m seeing some interesting shifts lately. About 20.4% of active listings have had price reductions, which is a sign of the times: higher borrowing costs have nudged demand down just a bit, with homes under contract slipping by less than 1% mid-Q3 after eight months of gains. Mortgage rates for a 30-year fixed peaked around 6.7% earlier in the quarter and stayed up there, finishing more than 20 basis points higher than at the start of Q3. Even with things cooling, the market hasn’t stopped moving—national median list price dropped to $424,500, active listings are up about 4%, and new listings dipped slightly. Sellers are still in the game, with delistings actually down about 13%, but buyers now have a little more time and negotiating power. Strategic pricing is key for making deals happen. As we head into the next chapter, it’s not just about whether rates go lower—it’s about whether they stop bouncing around. If mortgage rates hold near 6.7%, we might see more price cuts or even some sellers taking a pause. I’m always here to help make these changes feel a bit less stressful and a lot more understandable.
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