10/15/2026
Housing Data Gives Buyers More Leverage
There’s been a noticeable shift in housing dynamics this fall. By late Q3, about 21% of active listings had price cuts, and inventory climbed to over 1.16 million homes—putting us within roughly 9% of pre-pandemic norms. Buyer activity remains measured; homes under contract dropped about 4% compared to last year for the second month in a row, a clear sign that higher mortgage costs continue to weigh on affordability. The national median list price sits around $419,000, down about 1% both month-over-month and year-over-year, marking the eleventh consecutive month of annual price declines. Price per square foot also slipped 2% year-over-year. Sellers are still holding steady, with about 6% of listings delisted—virtually unchanged from last year—but more owners are adjusting prices to encourage negotiation. The next question: will these price reductions bring more buyers off the fence, or will the market continue this gradual adjustment with rising supply and softer demand? As a local Modesto agent, I keep a close eye on these trends to help clients navigate negotiations and make the most of current opportunities.
