We’re seeing a notable shift in the housing market: existing-home sales across the US dipped to a 14-month low in Mid-Q3, dropping below 4 million—a 2% decline month-over-month, with a 3.98 million annualized pace. For buyers, this means more listings to choose from, as nationwide supply has grown to 4.9 months. The average 30-year fixed mortgage hovered near 7%, yet the median home price set a Mid-Q3 record at $429,100, driven by strong activity in higher price ranges.
What does this mean for those considering their next move? Rising wages and steady job gains are still supporting demand, but a larger pool of homes is giving buyers—especially first-timers—more room to negotiate. In fact, first-time buyers made up 30% of purchases in Mid-Q3, with cash deals at 27%, and homes typically spent 31 days on the market.
After 25 years of guiding clients through every market cycle, I know firsthand how these trends can shape your strategy—whether you’re buying your first home, upsizing, or planning your next chapter. Clear communication and a grounded approach remain essential to making the most of today’s opportunities.
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