If you’re weighing your options between new construction and resale homes, here’s something I’ve been sharing with clients: builders across the country are making new homes a more attractive value than ever. With inventory still tight—since many homeowners are holding onto their current mortgages—builders are stepping up with price reductions and buyer incentives you won’t often find with resale properties. In areas where new construction is booming, buyers are seeing more choices and improved affordability as builders compete for your attention. Perks like mortgage rate buydowns and other incentives can really tip the scales. As your friendly home advisor, I always encourage folks to look at both new and resale options to find the best fit. Keep in mind, though, that these affordability gains might not last if building slows down, so having flexible local policies and ongoing construction is key to keeping options open for everyone. Let’s make sure your next move is as easy and stress free as possible!

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.

Recently, we've seen buyers gaining a bit more leverage in the housing market. In late Q3, around 21% of active listings had price cuts, and inventory reached over 1.16 million homes—just about 9% shy of what we used to see before the pandemic. Even so, many buyers are still moving carefully, with homes under contract dropping about 4% year-over-year for the second month in a row. Those higher mortgage costs are certainly making affordability a tough nut to crack. The national median list price sits near $419,000, which is down about 1% both month-over-month and year-over-year, continuing an 11-month streak of yearly price dips. Plus, price per square foot has slipped around 2% compared to last year. Interestingly, sellers are sticking it out: about 6% of listings were delisted, which is steady from last year, but more owners are adjusting prices and opening the door to negotiations. The big question now is whether these price cuts will spark more contracts, or if we’ll see this pattern of rising supply and steady demand continue. As someone who aims to keep the home buying and selling process as stress-free as possible, I’m here to help you make sense of what these changes mean for you.

Indigenous Peoples’ Day celebrates, recognizes, and honors the beautiful traditions and cultures of the Indigenous People
We take a stand for and support the indigenous people on this day.
We should also offer our support to those who invest and uplift the indigenous communities.

Lately, I’ve seen more sellers offering a helping hand to buyers than ever before. In the rolling 3-month period ending Mid-Q3, about 45% of US home sales included concessions—the highest Mid-Q3 level since at least 2020. That’s up from roughly 43% a year ago, which really shows how buyers are finding a bit more wiggle room as inventory rises and competition cools. Concessions can take many forms: help with repairs, assistance on closing costs, or even mortgage-rate buydowns. These options give buyers extra ways to make their move more affordable, beyond just a price cut. More sellers are providing closing-cost credits or rate buydowns now, not just slashing prices, so negotiations are becoming more flexible and creative. Nationally, about 16% of homes sold in Mid-Q3 combined a price reduction with a concession, making homeownership a little more accessible. As someone who truly wants your home journey to feel easy and stress free, I’m always keeping an eye on these trends to help guide you to the best possible outcome.