Lately, we’ve seen a notable shift: about one in five home listings experienced a price cut in Late-Q3, and fewer than 6% were delisted. That means most sellers are staying in the game and adjusting expectations rather than pulling their homes off the market—a sign of resilience in today’s landscape. At the same time, mortgage rates on a conforming 30-year fixed shot up from the high-6% range to above 7% by mid-month, and continued their climb.
Active inventory surpassed 1.16 million homes by Late-Q3, while the median listing price softened about 1% month-over-month to $419,300. For buyers, that opens up a bit more negotiating power, but there’s a catch: new listings actually dipped around 2% to roughly 395,000, and higher borrowing costs have made many would-be buyers more cautious about stretching their budgets.
As someone who believes in the power of data and real-time market immersion, I’m closely watching how these evolving conditions could bring deeper discounts, more frequent price cuts, and potentially longer selling times as we move into Early-Q4. My approach is always to provide you with an honest, nuanced view of the market—so you can make informed, confident decisions, no matter which side of the transaction you’re on.
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