As we move through mid-Q3, the US existing-home market finds itself at a 14-month low, with sales dipping to an annual pace of 3.98 million—a 2% month-over-month decrease. With the 30-year fixed mortgage rate hovering near 7% and national inventory expanding to 4.9 months, buyers are seeing more listings and, with them, more room for negotiation. The median existing-home price has reached a remarkable $429,100, marking a mid-Q3 record—higher-end properties continue to drive activity, while first-time buyers represent 30% of purchases and cash deals account for 27%. On average, homes are spending 31 days on the market.
In my work across luxury and commercial real estate, these numbers reflect what I’m seeing on the ground: greater leverage for buyers, particularly those prepared to act decisively in the higher price brackets. My approach always includes layering in new profit centers—such as telehealth—for commercial clients, optimizing both their real estate investments and their business operations. With rising wages and steady job gains supporting demand, this expanded supply presents a unique window for strategic moves, whether you’re looking to buy, sell, or enhance the value of your property portfolio.
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