The Housing Market Just Shifted — Here’s What You Need to Know

The U.S. housing market is busier than anyone expected this fall.If you’ve been sitting on the sidelines, now might be your window.

Why It’s Happening

Mortgage rates are dropping.The average 30-year rate is 6.19%, down from over 7% earlier this year. Lower rates mean cheaper monthly payments — more people can finally afford to buy.

The stock market is doing well.When people feel confident about their money, they’re more willing to make big moves — like buying a home.

What That Means for Buyers

• More homes are hitting the market — up 3% compared to last year.

• Total homes available are 14% higher, meaning more choices for buyers.

• Prices are softening — homes are selling for 1.4% below asking price, the biggest discount since 2019. Translation: Buyers can negotiate better deals.

  
  

Market Shift

Last year, only 6 major cities were considered “buyer’s markets.”Now, that number has jumped to 15 — meaning the power is starting to shift back to buyers.

What’s Next

Zillow expects this strong market to stay hot through the holidays, fueled by:

• Lower borrowing costs

• High demand from people who waited earlier in the year

  
  

Bottom Line

If you’ve been waiting to buy a home, this might be your best opportunity in three years rates are lower, inventory is up, and sellers are ready to make deals.

Don’t overthink it. Get educated, get pre-approved, and get positioned.