Mortgage costs have reached a 14-month high by late Q3, with the typical US buyer now looking at a monthly payment of $2,600. Median sale prices are holding steady—up about 2% year over year to roughly $399,000—which is putting extra pressure on affordability. Pending sales have stayed flat month-over-month and are lower compared to last year, and mortgage-purchase applications recently dipped just a bit. Even with the holidays slowing things down, new listings were still a touch higher than the same period last year.
I’ve seen firsthand how the right pricing strategy makes all the difference: about 21% of active listings have cut prices, and sharper pricing is drawing in buyers, while overpricing tends to create hesitation. Inventory is showing a little improvement too, with active supply up about 2% year over year to 1.5 million homes nationwide and nearly four months’ worth of inventory—though we’re still not quite at a balanced market.
If you’re wondering how these trends might shape your home search or sale, know that every market, including ours here in Hinesville, has its own rhythms. After 26 years helping folks navigate these shifts, I’ve learned that being flexible and informed is key to finding the right fit—even when the numbers feel challenging.
Leave a Reply