As fall settles in, I’m keeping a close eye on the latest shifts in the U.S. housing market—especially as they ripple through our Central Coast communities. September brought a subtle but noteworthy change: pending home sales slipped into negative territory year-over-year, breaking an eight-month streak of gains as higher borrowing costs slowed buyer activity. Contract signings softened as well, and homes are now taking about 60 days to sell. Mortgage rates have crept up from around 6% earlier this year to the high-6% range, shaping buyer and seller strategies alike.
What’s interesting for both buyers and sellers: the median list price edged down to $424,500, and nearly 20% of listings saw price cuts. Active inventory is up about 4%, and we’re seeing fewer properties pulled off the market compared to last year. Still, national inventory remains about 11% below typical pre-pandemic levels—clear evidence that housing supply is tight, even as buyer momentum has cooled.
As someone who specializes in preparing homes to stand out and guiding clients through every market turn, I know these small shifts can have a big impact—whether you’re considering a move, weighing your home’s value, or strategizing your next step. I’m watching how sellers adjust their pricing and whether regional differences keep narrowing as everyone adapts to firmer borrowing costs. It’s moments like these that call for insight, preparation, and a local perspective you can trust.
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