September offered us a revealing snapshot of the U.S. housing market: after eight months of yearly growth, pending home sales dipped into the negative as elevated borrowing costs put the brakes on buyer enthusiasm. Contracts softened, homes are averaging 60 days on market, and mortgage rates have edged from around 6% in late Q1 to the high-6% range. But buyers are finding a bit more leverage—median list prices slipped to $424,500, nearly 20% of listings saw price cuts, and delistings have dropped compared to last year, while active inventory is up about 4%. Still, even with more properties available, national inventory is hovering about 11% below pre-pandemic norms, underscoring the persistent shortage that’s shaping our market. Industry experts are closely tracking seller delistings, evolving pricing strategies, and whether we’ll see regional gaps narrow as both buyers and sellers adapt to the new borrowing landscape. As someone who thrives on innovative marketing and finding opportunity in shifting conditions, I’m always watching these trends to help clients navigate their next move with confidence.
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