Lately, we’ve seen a noticeable shift in home prices across major U.S. metro areas. In Mid-Q3, the price per square foot dropped year-over-year in 36 out of the 50 largest metro markets—a sign that the broader housing landscape is cooling. Nationwide, this metric slipped by about 2% compared to last year, marking the tenth consecutive month of yearly softening. As the quarter wrapped up, momentum slowed further: some sellers responded by making more significant price cuts, aiming to bridge the gap between buyer and seller expectations. With mortgage rates remaining elevated, affordability has become a bigger challenge, especially in markets that experienced rapid growth during the pandemic. Sellers in those areas are now adjusting to meet buyers halfway, supported by inventory levels that are higher than before the pandemic. In my 17 years helping buyers and sellers throughout the Houston and Dallas Metroplex, I’ve seen firsthand how market conditions ebb and flow—and how crucial it is to stay adaptable. Each transition brings new opportunities for both buyers and sellers.
U.S. Home Prices Ease Across Major Metros
