We’re seeing a noticeable shift in the housing market this Mid-Q3: price per square foot has dipped in 36 out of the 50 largest US metro areas, reflecting a broader cooling trend across the country. Nationally, there’s been about a 2% year-over-year decline in price per square foot—marking the tenth consecutive month of this softer pricing environment. Sellers are responding by adjusting their asking prices more aggressively, hoping to bridge the gap with today’s buyers as the market loses some momentum. High mortgage rates are making affordability tougher, especially in those pandemic-boom neighborhoods, and it’s prompting sellers to get more realistic. Inventory is also sitting above pre-pandemic levels, giving buyers more options and shifting some leverage their way. Having guided clients through countless market cycles, I know that adapting to evolving conditions—whether you’re moving up, downsizing, or buying for the first time—is key. My goal is always to ensure you have the clearest picture possible, so your next move builds toward your long-term financial well-being.
Leave a Reply