Across the country, we’re seeing a shift: 20.4% of active listings have reduced their prices. The pace of homes going under contract slowed by less than 1% in mid-Q3, ending an eight-month streak of gains. Rising borrowing costs have clearly put pressure on buyer demand, with the average 30-year fixed mortgage rate peaking around 6.7% and holding steady for several weeks—finishing the quarter over 20 basis points above where it started. Even with softer demand, the market didn’t stall. The national median list price dipped to $424,500, active listings climbed by about 4%, and new listings pulled back just a bit. Sellers are still in the game, with delistings down roughly 13%, and buyers now have a bit more time and leverage to make their moves. Strategic pricing remains essential for getting deals done. As we look ahead, the stability of mortgage rates—not just their level—could play a pivotal role. If rates hover near 6.7%, we may see more sellers adjusting their prices or choosing to wait. As a broker who’s navigated many cycles in Coastal Georgia and beyond, I know a balanced approach and market insight are key to success—whether buying, selling, or investing.
