Mortgage costs have reached a 14-month high, and that’s putting extra pressure on buyers across the country. By late Q3, the typical monthly payment rose to $2,600 as mortgage rates climbed and median sale prices held steady—now around $399,000, up about 2% from last year. That combination is making affordability a real challenge, with pending sales holding flat month-over-month and trailing last year’s numbers.
Applications for mortgages dipped slightly, and while new listings dropped a bit due to holiday schedules, they’re still modestly above where we were at this point in 2025. For sellers, pricing strategy has become even more important: about 21% of active listings cut their prices recently. Sharper, realistic pricing is attracting attention, while overpricing tends to hold buyers back.
On the positive side, inventory is improving—active supply is up 2% year-over-year, now at 1.5 million homes, with about four months of supply. Still, that’s not quite a balanced market just yet.
I’m always focused on helping my clients navigate these shifts with confidence and a long-term mindset. Real estate remains a powerful tool for building wealth and reducing financial stress, especially when you approach the market with knowledge and integrity.
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