Recently, we’ve seen home prices easing across many of the country’s largest metro areas. In fact, during Mid-Q3, the price per square foot declined year-over-year in 36 out of the 50 biggest U.S. metros—a clear sign of a broader cooling trend in the housing market. Nationally, price per square foot dropped about 2% compared to last year, making this the tenth consecutive month with softer annual numbers. As Mid-Q3 closed, the market’s momentum slowed, and some sellers began reducing asking prices more sharply. This helped bridge the gap between buyer and seller expectations, especially as high mortgage rates continued to impact affordability—most noticeably in cities that experienced rapid price growth during the pandemic. An economist pointed out that many of these boom markets are now giving back a portion of those gains, aided by inventory levels that remain above pre-pandemic averages. As always, I’m here to help my clients navigate these shifts with care, clear communication, and a focus on their unique goals. Real estate isn’t just about numbers—it’s about guiding you through major life milestones with confidence and respect.
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