We’re seeing some noticeable shifts out there: in Late-Q3, about one in five property listings had to adjust their asking prices. Fewer than 6% were actually delisted, which means most sellers chose to stay the course and simply rethink their expectations—a move we’ve often advised when markets get choppy. The conforming 30-year fixed mortgage rate started in the high-6% range and climbed over 7% by mid-month, squeezing options for many would-be buyers. Active inventory topped 1.16 million homes, with the median listing price dipping slightly—down about 1% month-over-month to $419,300. That’s opened up a bit more room for negotiation, but new listings still slipped about 2% to 395,000. Economists are pointing to those higher borrowing costs as a reason buyers aren’t jumping at the extra leverage. Looking ahead to Early-Q4, the big question is whether these tougher conditions will lead to deeper discounts, more price cuts, or longer selling times. As multi-unit owners and longtime leasing specialists, we’re watching these trends closely to help our clients—especially landlords—navigate pricing decisions and set realistic goals for their properties. Staying informed and adaptable is key in times like these.
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