Recently, about one in five home listings experienced price cuts, while less than 6% were delisted—a sign that many sellers are choosing to stay in the market and adjust their expectations. Mortgage rates have been on the move, with the conforming 30-year fixed rate rising from the high-6% range early in the month to above 7% by mid-month, and then climbing even higher. By the end of the quarter, active inventory reached over 1.16 million homes, and the median listing price dipped about 1% month-over-month to $419,300. This shift has given buyers a bit more flexibility to negotiate. At the same time, new listings slipped roughly 2% month-over-month to around 395,000, as higher borrowing costs kept many buyers from fully taking advantage of increased negotiation power. As we move into the new quarter, many are watching to see if these tougher conditions will lead to deeper discounts, more repeated price cuts, and longer selling times. Navigating these changes can feel overwhelming, but my approach is always centered on making the process as smooth and stress-free as possible for you.
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