It’s always fascinating to watch how sellers and buyers adjust as the market shifts. In late Q3, about one in five home listings took a price cut, but fewer than 6% were actually delisted—proof that many sellers are staying in the game and simply adapting their expectations. Mortgage rates also kept us all on our toes: the conforming 30-year fixed started in the high-6% range early in the month, but quickly rose above 7% by mid-month and continued its climb. By the end of Q3, there were more than 1.16 million active homes for sale nationwide, and the median listing price dipped a bit—down about 1% month-over-month to $419,300. That shift gave buyers a little more room to negotiate, though new listings did slip by roughly 2% to around 395,000. Higher borrowing costs have certainly made buyers more cautious, and many are not jumping at every opportunity despite having a bit more leverage. As we moved into early Q4, the big question became whether these conditions would lead to deeper discounts, more price cuts, or longer selling times.
After decades as a Realtor in markets from the Great Lakes to Florida’s Treasure Coast, I’ve seen how every market cycle brings its own set of opportunities and challenges. Staying informed and nimble is key—whether you’re buying, selling, or simply keeping an eye on the horizon.
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