Recent housing data is giving buyers in our area a new edge. In late Q3, about 21% of homes on the market had price cuts, and active inventory reached over 1.16 million homes—nearing pre-pandemic levels. Despite more choices, many buyers are still weighing their options carefully: homes under contract fell around 4% year over year for the second month in a row, a clear sign that higher mortgage rates are keeping affordability front and center. The national median list price sits at approximately $419,000, down 1% month-over-month and year-over-year—making it the eleventh consecutive month of yearly price declines. Price per square foot also dipped about 2% compared to last year. Sellers are staying active, with only 6% of listings delisted (steady with last year), while more are making price adjustments and opening the door to negotiation. The big question: Will further price cuts bring more buyers to the table, or will increased supply and softer demand keep stretching this adjustment phase? After 17 years guiding buyers and sellers across Houston, Fort Bend, Harris, and surrounding counties, I’m watching these shifts closely to help my clients make informed choices in this dynamic market.
Housing Data Gives Buyers More Leverage
