Lately, I’ve noticed buyers are feeling the weight of higher monthly payments—by late Q3, the typical payment reached $2,600, a 14-month high. Even as mortgage costs climbed and the national median home-sale price edged up about 2% to $399,000, affordability remains front and center for many of my clients. It’s no surprise that pending sales have held steady month-over-month and are tracking below last year. I’m seeing a little less activity in mortgage-purchase applications and, while new listings dipped around the holidays, they’re still a touch higher than the same period last year. For sellers, a smart pricing strategy is more important than ever—about 21% of active listings made price cuts recently, and I’ve found that sharper, realistic pricing draws genuine attention, while overpricing only creates hesitation. On the inventory side, active supply ticked up about 2% year-over-year to 1.5 million homes, with supply hovering near four months—still not quite a balanced market, but showing some movement. Whether you’re buying or selling, my approach is always tailored to your needs and I’m committed to ensuring you have the guidance and attention you deserve as the market shifts.
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