10/17/2026
Housing Data Gives Buyers More Leverage
Recent housing data is signaling a notable shift in buyer leverage. As we moved through late Q3, approximately 21% of active listings reflected price cuts, with inventory climbing to over 1.16 million homes—now just about 9% shy of typical pre-pandemic levels. Buyer sentiment has remained cautious, with homes under contract dropping around 4% year-over-year for the second month in a row, underscoring the continued impact of higher mortgage costs on affordability.
The national median list price settled at roughly $419,000, a slight decrease of about 1% both month-over-month and year-over-year, marking eleven consecutive months of annual declines. Price per square foot also fell by about 2% year-over-year. Sellers, for the most part, are staying engaged in the market—only about 6% of listings were delisted, a figure that's remained steady, but more owners are adjusting their prices and opening up greater room for negotiation.
The next pivotal question: Will further price reductions encourage more buyers to commit, or will increased supply and measured demand extend this period of adjustment? With decades of experience navigating changing markets, I continue to monitor these shifts closely to guide my clients and advisors with insight and care.
