As we step into September, it’s clear that the U.S. housing market is shifting in subtle but important ways—patterns I always keep an eye on for my clients across Austin and the surrounding communities. Pending home sales slipped into slightly negative territory year-over-year, ending an eight-month run of gains as higher borrowing costs tempered buyer enthusiasm. I’ve noticed contract signings slowing, homes now averaging 60 days on market, and mortgage rates moving from around 6% in late Q1 up into the high-6% range.
For buyers, this environment brings some new negotiating room: the median list price has edged down to $424,500, about 20% of listings have seen price cuts, delistings are down compared to last year, and active inventory has grown about 4%. Even so, national housing inventory remains roughly 11% below typical pre-pandemic levels—a reminder that supply is still tight beneath today’s buyer hesitancy.
Experts are watching the continued trends in seller delistings, pricing strategies, and whether regional differences will keep narrowing as both buyers and sellers adjust to firmer borrowing costs. I make it a point to stay informed on these shifts and explain what the numbers mean in practical terms for each of my clients, whether you’re buying your first home, moving up, or considering your next investment. Every market change is an opportunity to strategize—let’s navigate these updates together with confidence and clarity.
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