It’s been an interesting Mid-Q3 for US existing-home sales, with activity slipping to a 14-month low—just under 4 million at a 3.98M annual pace, reflecting a 2% month-over-month dip nationwide. For buyers, this shift is opening up new possibilities: supply has climbed to a 4.9-month level, giving more options as listings increase across the country. The average 30-year fixed mortgage rate hovered near 7% during this period, while the median existing-home price set a new Mid-Q3 record at $429,100, with higher-priced properties continuing to see the most action. Demand remains resilient, supported by rising wages and steady job growth. As an experienced broker, I’ve noticed that a larger inventory gives clients better room to negotiate—a trend echoed by economists as well. First-time buyers accounted for 30% of purchases and cash deals stood at 27%, with homes typically on the market for about 31 days. For those navigating these evolving conditions, clear communication and an efficient approach remain as important as ever.
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