10/20/2026
📊 🏡 This Week’s Real Estate Market Update:
The housing market continues to slow this fall as higher mortgage rates keep many buyers on the sidelines until spring. 📉 Price reductions have reached 42.9% of listings, the highest level for October in over a decade, with average cuts of 4.2% or about $18,000. 🏠 Pending sales dropped 16% year over year to 64,000, while inventory rose to 1.13 million homes, up 4.8% from last year.
New listings remain slightly below last year at 77,000, and the median asking price is $435,000, down 1.1% year over year. 💰 With sales indicators still weakening, the slowdown may continue into next year, potentially bringing further price adjustments and new market trends in 2027.
🔑 Bottom line: Buyers may find more negotiating opportunities, while sellers should focus on competitive pricing and realistic expectations.
