As we move through early Q3, the national picture for existing-home sales reveals some interesting nuances. While transactions dipped 1.7% month-over-month, they're actually up 0.7% compared to last year—proof that activity is still holding just ahead of last summer’s pace. Median prices have climbed to $434,100, marking 37 straight months of year-over-year growth. For many homeowners, that means a bit more equity to keep in mind as you consider your next steps.
Inventory remains tight, finishing early Q3 at 1.54 million homes (down 1.9% month-over-month and 0.6% year-over-year). If you’re keeping an eye on the market, it’s a good reminder: even with more equity out there, buyers need to track listings closely and stay ready to act.
Interestingly, housing affordability has improved on a national scale, even with prices on the rise. This suggests there are windows of opportunity—especially for those prepared to move when the right combination of value, timing, and options comes together. Mortgage rates have hovered in the high-6% range for a 30-year fixed loan, and any future easing could offer buyers a welcome advantage as summer continues.
Having spent 25 years guiding clients through these kinds of shifts, I know firsthand that every buyer’s path is unique—and that creative solutions often make all the difference. Whether you’re a first-timer, an investor, or somewhere in between, keeping informed is key to navigating this evolving landscape.
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