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By Late-Q3, the typical US buyer's monthly payment reached $2.6K, a 14-mo high, as mortgage costs climbed and median sale prices held firm.
The national median home-sale price ↑~2% yearly to ~$399K, adding affordability pressure and helping keep pending sales flat MoM and lower yearly.
Mortgage-purchase applications were slightly lower recently, while new listings fell MoM around holiday timing but still stayed modestly above the comparable 2025 period.
Seller strategy mattered more: ~21% of active listings cut prices, and an agent noted sharper pricing helped attract attention while overpricing created hesitation.
Inventory also improved, with active supply ↑~2% yearly to 1.5M homes and supply near 4 mo, still shy of a balanced market.

The latest national numbers show US existing-home sales dipping below 4 million in mid-Q3, marking a 14-month low at a 3.98M annual pace—a clear sign that buyers are approaching with a bit more caution. Mortgage rates hovering near 7% for a 30-year fixed have certainly played a role, while supply has grown to 4.9 months, giving buyers many more options to consider as listings accumulate across the country. Even so, the median existing-home price set a new mid-Q3 record at $429,100, with higher-end homes continuing to drive much of the activity. What’s standing out to me: first-time buyers are still a meaningful force, making up 30% of purchases, and cash deals account for 27%. Homes are typically spending 31 days on the market. With rising wages and steady job gains supporting demand, buyers are gaining more leverage to negotiate—something I’ve seen firsthand here in Beverly Hills and Los Angeles. My background, growing up around dealmakers and spending decades guiding everyone from first-timers to seasoned investors, reminds me that every shift in the market brings new opportunities to find the right fit for each client.

The latest trade-group study on U.S. data centers paints a nuanced picture for real estate: while areas with a concentration of these facilities see stronger median home values ($431.75K) and higher household incomes (around $89K), they also face increased utility costs—a factor that tops client concerns at 61%, with water use close behind at 56%. Across the country, these centers are far from common: 92% of counties have none, and just 1% host ten or more. Notably, the top 10 counties hold 42% of all data centers, underscoring how localized these impacts can be.

Broker perspectives remain divided; 25% of agents report residential gains near data centers, while 22% note declines. Commercially, half see value increases, and 42% observe stronger land demand. For those of us navigating complex transactions in dynamic markets, this underscores just how important local expertise is—especially when balancing the potential for higher property values with the realities of rising utility costs. Having grown up immersed in the industry and now specializing in luxury properties from Beverly Hills to Los Angeles, I always keep a close eye on these trends to help my clients make informed decisions tailored to their unique needs and goals.

As we move into autumn, I’m seeing sellers across the country adjust their expectations—reflected in a roughly 2% year-over-year drop in median listing price per square foot in mid-Q3. After nearly a year of gradual declines, many homeowners are now more open to trimming asking prices, especially after years of rapid appreciation. Higher mortgage rates and broader economic uncertainty have made buyers more deliberate, taking extra time to evaluate both financing options and property values.

In my three decades in real estate, I’ve often found that shifting seasons bring new opportunities for well-prepared buyers. Right now, increased housing supply is giving pre-approved clients more room to negotiate, revisit neighborhoods that might have felt out of reach, and secure terms that work for their long-term goals. With my background navigating complex transactions—from first-time purchases to luxury estates—I understand how to leverage these evolving market conditions for my clients’ benefit, whether they’re searching for the perfect family home or a strategic investment.

A recent central bank hike pushed its benchmark rate to near 4%, signaling a higher-rate backdrop that influenced housing sentiment across buyers, sellers and agents.
Agents faced two key tasks: resetting seller expectations and helping buyers weigh monthly payments alongside paychecks, groceries, gas, childcare and other budget pressures.
An expert said mortgage rates had already climbed from ~6% in Mid-Q1 to ~7% recently, reflecting oil-driven inflation worries more than the benchmark move alone.
Pressure was expected to appear first in transaction volume, not short-term pricing; an expert said local legislation shaped prices more directly overall.
Officials' projections pointed to at least one more rate increase by Late-Q4, suggesting affordability pressure would persist and brokers faced another season of client conversations.

The Fed has just raised its key rate by 0.25%, bringing it to a range of 3.75%-4%—the first increase since July 2023. With inflation still running above the Fed’s 2% target, officials have hinted that another hike could be on the horizon this year. As someone who’s spent three decades navigating the ebbs and flows of the Beverly Hills and Los Angeles real estate markets, I know how shifts like these can impact both buyers and sellers. Whether you’re considering timing a move, strategizing your next investment, or simply wondering how this might affect your purchasing power, staying informed is essential. The Fed’s next meeting is set for October 27-28, 2026, when they’ll take another look at inflation and broader economic trends. In markets where every detail matters, understanding these decisions can help you make choices with confidence.