Housing affordability continues to be a central conversation for buyers and sellers, with several key questions shaping today’s market. Lately, we’ve seen more sellers offering concessions—an encouraging sign for households striving for homeownership, as these incentives can mean real savings. Yet, the primary challenge remains borrowing costs: benchmark Treasury yields are hovering near 5%, and the average 30-year mortgage rate has climbed above the low-7% range. For the four weeks ending September 13, the median monthly mortgage payment reached around $2,600, up about 3% from last year, highlighting just how much financing costs are impacting affordability.
Resale inventory is still limited, with many homeowners holding onto their low-rate loans and fewer listings coming online. At the same time, sellers are still hoping for those higher, pandemic-era prices. Industry experts describe our current market as correcting toward stability—not a crash—thanks to strong homeowner equity and sound lending standards. As someone who’s guided clients through all kinds of markets, I see opportunities for both buyers and sellers to navigate these changes with confidence and strategy. If you’re working toward your next move, understanding these trends is key to making informed decisions.
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