September brought some important shifts in the U.S. housing market. Pending home sales ended an 8-month run of yearly gains, as rising mortgage rates cooled buyer momentum. Across the board, contract signings softened compared to last year, and the average home took about 60 days to sell. In just a few months, mortgage rates rose from around 6% in late Q1 to the high-6% range.
For buyers, this changing landscape opened up some opportunities: the median list price dipped to $424,500, about 20% of listings saw price cuts, and active inventory increased by approximately 4%. Delistings also fell compared to last year. Still, even with more homes on the market, national inventory remains about 11% below pre-pandemic norms—underscoring the ongoing housing shortage beneath the recent buyer hesitation.
Industry experts are closely monitoring how sellers adjust pricing and whether regional differences will narrow as everyone adapts to higher borrowing costs. With over 17 years serving Houston, the Dallas Metroplex, and surrounding counties, I’ve seen how these shifts affect both buyers and sellers firsthand. Navigating these changing dynamics takes experience and a steady hand—qualities my team and I bring to every transaction.