As someone who’s spent more than 14 years guiding clients through the real estate landscape, I’m always watching the market’s shifts closely. In Mid-Q3, we saw price per square foot decline year-over-year in 36 out of the 50 largest US metro areas—a clear sign that the cooling trend is expanding across major housing markets. Nationally, this measure dipped about 2% from the previous year, marking the tenth consecutive month of softening. Toward the end of the quarter, the momentum slowed further, and sellers became more flexible, cutting asking prices more sharply to bridge the gap with buyers. Persistently high mortgage rates continue to test affordability, especially in cities that experienced rapid gains during the pandemic. Inventory levels have also remained higher than pre-pandemic norms, encouraging sellers to adjust expectations. These shifts emphasize the importance of having a knowledgeable advocate in your corner to help you navigate changing conditions and find opportunities, whether you’re buying or selling.
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