As we move through early Q3, the US existing-home market continues to show both stability and subtle shifts. While sales dipped 1.7% month-over-month, they still finished 0.7% above last year’s pace, highlighting that completed transactions are holding steady compared to the previous summer. The median price for existing homes reached $434,100, marking the 37th consecutive month of annual price growth—an ongoing trend that’s giving many homeowners additional equity to watch closely.
Inventory remains a challenge, ending early Q3 at 1.54 million homes—down 1.9% from last month and 0.6% from last year. For buyers, this means keeping a close eye on new listings is as important as ever in a market where options remain limited. Despite rising prices, national housing affordability has improved, offering a window for buyers who are prepared and patient to find the right fit when opportunity strikes.
Mortgage rates have been hovering in the high-6% range for a 30-year fixed loan, and any future rate relief could make a meaningful difference for those ready to take the next step.
Having guided clients of all backgrounds through changing markets over the past 17 years, I know that every real estate journey is unique. My approach has always been to keep you informed and empowered—whether you’re weighing your options as a homeowner, searching for your next home, or exploring investment opportunities. Experience you can trust. Service you’ll remember.
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