Early in Q3, we saw US existing-home sales dip 1.7% month-over-month, but transactions still landed 0.7% higher than last year—evidence that activity remains steady, even in a shifting market. The median price for existing homes climbed to $434,100, marking the 37th consecutive month of yearly gains. For many of my clients, that means watching their home equity grow a bit more, which can open up new possibilities when considering your next move.
Inventory tightened again, ending early Q3 at 1.54 million homes (down 1.9% from the previous month and 0.6% year-over-year). For buyers, it’s a reminder that staying alert to new listings—and being ready to act—can make all the difference in a still-competitive market.
Interestingly, housing affordability improved across the country, despite rising prices. This tells me that well-prepared buyers can find valuable opportunities when the right home, timing, and mortgage option align. With 30-year fixed mortgage rates hovering in the high-6% range, any relief in rates could bring even more options to the table as the summer continues. As always, I believe that informed decisions and thoughtful preparation are your best tools when navigating real estate—especially in a market that keeps us on our toes.
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