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We’re seeing some notable shifts in the housing market this mid-Q3, with 20.4% of active listings experiencing price reductions on a national level. Homes going under contract dipped by less than 1% compared to last year, pausing an eight-month streak of gains—an effect of rising borrowing costs. The average 30-year fixed mortgage rate hovered around 6.7% for much of the period, ending more than 20 basis points higher than at the start of Q3. Even as demand softened, the market kept moving: median list prices nationally dropped to $424,500, active listings increased by about 4%, while new listings saw a slight dip. Sellers seemed more determined to stay the course, with delistings down by roughly 13%. For buyers, slower market activity allowed for more time and negotiation leverage, yet sellers using strategic pricing were still able to secure successful deals. As someone who’s navigated hundreds of transactions across Oxford, Lapeer, and Lake Orion, I always advise my clients that market conditions like these require a thoughtful approach—whether you’re buying or selling. Going forward, steadier mortgage rates around 6.7% could prompt even more price adjustments or some sellers to take a pause. Staying informed and flexible remains key.

Builder confidence across the U.S. has reached its lowest point in a year, with the key builder-confidence index dropping 3 points to 32 in late Q3. Current sales conditions softened to 35, and the outlook for sales six months out slipped to 37. Even prospective buyer traffic stayed flat at 23. Notably, 38% of builders nationwide have reduced prices, and about two-thirds are offering incentives—a rise from 63% just a few months earlier. Mortgage applications for new-home purchases have now declined for five consecutive months, with average 30-year rates still sitting in the high-6% range. In response, larger builders are turning to builder-paid rate buydowns, giving buyers an opportunity to lock in a lower mortgage rate without depending solely on more price cuts. With 30-year rates hovering close to 7% by late Q3, two major housing forecasters expect these rates to remain elevated through 2027.

Having navigated many market cycles in my 35+ years assisting buyers and sellers in Oxford, Lapeer, Lake Orion, and beyond, I know how important it is to stay informed and adaptable. Even in a shifting market, there are creative ways to achieve your real estate goals—whether you’re considering new construction or exploring established neighborhoods. My approach is always honest, professional, and focused on making your experience as smooth as possible, keeping you updated every step of the way.

As someone who’s spent over 35 years guiding buyers and sellers through real estate changes in Oxford, Lapeer, and Lake Orion, I keep a close eye on housing inventory trends—both nationally and here at home. By Mid-Q3 2026, national active inventory reached 1.14 million, up about 4% from last year’s 1.1 million. That’s still growth, but it’s a much gentler pace compared to the sharp 21% annual gain we saw a year earlier. Even after a brief slowdown (just 2% growth in late Q2), the market hasn’t fully bounced back to pre-pandemic levels. Eighteen states and DC have surpassed their 2019 inventory, yet nationally we’re still about 8% below where we were in Mid-Q3 2019, with 1.14 million active listings versus 1.24 million. What does this mean for buyers and sellers? The post-boom cooling period has eased, and the market remains soft with flat prices—while higher yields and mortgage rates could still affect momentum. I always keep my clients informed, so you can make decisions confidently, no matter which direction the market turns.

Indigenous Peoples’ Day celebrates, recognizes, and honors the beautiful traditions and cultures of the Indigenous People
We take a stand for and support the indigenous people on this day.
We should also offer our support to those who invest and uplift the indigenous communities.

I've always believed that smooth, transparent transactions are key to a positive real estate experience. Lately, I've seen sellers across the US responding to shifting market conditions by offering more concessions than ever—about 45% of home sales in the recent 3-month period ending Mid-Q3 included some form of seller concession. That’s the highest rate for Mid-Q3 since at least 2020, and it’s up from around 43% the year before. What does this mean for buyers? You’re not just seeing more flexible pricing; sellers are now frequently helping with repairs, closing costs, or even mortgage-rate buydowns to make homeownership more accessible. In fact, about 16% of homes sold nationally during this period combined a price reduction with a concession. In my own work in the Oxford/Lapeer/Lake Orion area, I’m seeing negotiations evolve as sellers look for creative ways to make deals work for today’s buyers. My goal remains the same: to keep you informed and guide you through every step, making sure your real estate journey is as seamless and successful as possible.

As we move through mid-Q3, existing-home sales across the US have dipped below 4 million, reaching a 14-month low with a 3.98 million annual pace—a 2% decrease from the previous month. While this signals a bit less buyer activity nationwide, I’ve noticed how the landscape is shifting in ways that can benefit both buyers and sellers locally. With the average 30-year fixed mortgage hovering around 7% and inventory growing to a 4.9-month supply, buyers are finding more choices and a bit more negotiating room. The median price hit $429,100—a new record for this time of year—driven especially by the strength of higher-priced home sales. Steady job growth and rising wages are still supporting buyer demand, while increased options mean many clients have a better shot at finding the right fit. In mid-Q3, first-time buyers represented 30% of purchases and cash deals made up 27%, with homes spending an average of 31 days on the market. After 35 years helping folks in Oxford, Lapeer, and Lake Orion navigate market changes just like these, I know how important it is to stay informed and prepared—whether you’re stepping into the market for the first time or making your next move.

In the real estate world, keeping an eye on the numbers is key—especially for buyers and sellers navigating today’s market shifts. By late Q3, the typical U.S. buyer’s monthly mortgage payment climbed to $2,600, marking a 14-month high. At the same time, the national median home-sale price nudged up about 2% year-over-year, now hovering near $399,000. As affordability gets squeezed, it’s no surprise pending sales stayed flat compared to the previous month and dipped from last year.

Mortgage-purchase applications have also edged down, and while new listings slowed a bit around the holidays, there were still more than during the same period in 2025. For sellers in our Oxford, Lapeer, and Lake Orion communities, pricing strategy is especially important right now—about 21% of active listings nationwide have reduced prices, and I’ve found that sharper pricing attracts more attention, while overpricing tends to make buyers hesitate. Inventory has improved slightly, with active supply up roughly 2% annually to 1.5 million homes, and about four months of supply on the market—though we’re still not quite at a balanced market yet.

After more than 35 years guiding clients through these cycles, I know that local expertise and honest advice can help you make the right move—whether you’re buying, selling, or just weighing your options.