The latest numbers show US existing-home sales dipping below 4 million in Mid-Q3, the lowest pace in 14 months at 3.98M. Month-over-month sales slipped 2%, and it’s clear buyers are taking a more measured approach across the country. With 30-year fixed mortgages averaging near 7% and supply up to 4.9 months, buyers have more listings to choose from—something I always encourage clients to use to their advantage when we’re looking for the right fit. The median price hit $429,100, a new Mid-Q3 record, with higher-priced homes leading the market. Thanks to rising wages and steady job growth, there’s still solid demand, but more inventory means more room to negotiate, especially for first-time buyers, who made up 30% of purchases. Cash offers comprised 27%, and most homes spent about 31 days on the market. Every client’s situation is unique, and in times like these, listening closely and matching people to the right opportunities becomes even more important. My goal is always to guide you through every step, whether you’re buying your first place or looking to maximize your sale.
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