September’s housing trends are offering some important insights for anyone navigating today’s real estate landscape. For the first time in eight months, pending home sales dipped slightly year-over-year, a sign that higher borrowing costs are beginning to slow buyer activity. Contract signings softened compared to last year, homes are now taking about 60 days to sell, and mortgage rates have edged up from around 6% in late Q1 to the high-6% range.
Buyers are starting to see a bit more leverage: the median list price slipped to $424,500, price reductions are now seen on about 20% of listings, and active inventory is up roughly 4%. Still, even with more homes on the market, national inventory remains about 11% below pre-pandemic norms—underscoring the ongoing housing shortage beneath the surface of today’s market dynamics.
As I work with clients throughout Coastal Georgia, Florida, and South Carolina, these shifts highlight the importance of strategic pricing and timing. Many experts, myself included, are closely watching delistings, seller strategies, and how regional differences may continue to narrow as both buyers and sellers adapt to these firmer borrowing costs. Staying informed and flexible remains key in making confident real estate decisions.