09/06/2026
๐ ๐ ๐๐๐๐ ๐๐๐๐๐๐ ๐๐๐ ๐
๐๐๐๐๐๐ โ ๐๐๐ ๐๐๐๐ ๐๐๐๐๐๐ ๐๐๐ ๐
๐๐๐๐๐๐ ๐๐ ๐๐๐๐ ๐๐๐๐ ๐๐๐๐ ๐๐๐๐๐๐! ๐
The U.S. housing market is finally showing more signs of cooling โ but this isnโt a nationwide collapse. Instead, weโre seeing a major shift in pricing, inventory, and buyer behavior, with some pandemic-era boomtowns giving back part of their extraordinary gains.
๐ ๐๐๐ญ๐ข๐จ๐ง๐ฐ๐ข๐๐, ๐ญ๐ก๐ ๐ง๐ฎ๐ฆ๐๐๐ซ๐ฌ ๐๐ซ๐ ๐ญ๐๐ฅ๐ฅ๐ข๐ง๐ :
โก๏ธ Price per square foot fell 1.8% year over year in August โ its 10th consecutive month of decline.
โก๏ธ The median list price fell 3.6% in the Northeast, 2.6% in the South, and 2.1% in the West.
โก๏ธ The Midwest was the exception, with prices essentially flat.
โก๏ธ Even more telling: 36 of the 50 largest U.S. metros saw their median listing price per square foot decline in August.
So, where are prices falling the fastest? ๐
๐ฅ ๐๐๐ ๐๐๐ ๐๐ ๐๐๐๐๐๐๐:
๐ก ๐๐ฎ๐ฌ๐ญ๐ข๐ง, ๐๐ โ โ8.1%
Median list price: $450,000
๐ก ๐๐๐ฆ๐ฉ๐, ๐
๐ โ โ5.6%
Median list price: $391,950
๐ก ๐๐๐ฆ๐ฉ๐ก๐ข๐ฌ, ๐๐ โ โ4.1%
Median list price: $299,995
๐ก ๐๐๐ง ๐
๐ซ๐๐ง๐๐ข๐ฌ๐๐จ, ๐๐ โ โ3.9%
Median list price: $908,700
๐ก ๐๐๐ง ๐๐ง๐ญ๐จ๐ง๐ข๐จ, ๐๐ โ โ3.6%
Median list price: $324,450
๐ก ๐๐๐ง๐ฏ๐๐ซ, ๐๐ โ โ3.4%
Median list price: $574,913
๐ก ๐๐๐ฅ๐ญ๐ข๐ฆ๐จ๐ซ๐, ๐๐ โ โ3.2%
Median list price: $375,000
๐ก ๐๐๐ง ๐๐ข๐๐ ๐จ, ๐๐ โ โ2.7%
Median list price: $899,000
๐ก ๐๐ซ๐ฅ๐๐ง๐๐จ, ๐
๐ โ โ2.6%
Median list price: $417,000
๐ก ๐๐จ๐ซ๐ญ๐ฅ๐๐ง๐, ๐๐/๐๐ โ โ2.4%
Median list price: $595,000
๐ก ๐๐ฎ๐ญ ๐ก๐๐ซ๐โ๐ฌ ๐ฐ๐ก๐๐ซ๐ ๐ข๐ญ ๐ ๐๐ญ๐ฌ ๐ข๐ง๐ญ๐๐ซ๐๐ฌ๐ญ๐ข๐ง๐ โฆ
Many of the biggest declines are happening in cities that experienced explosive growth during 2020โ2022.
Austin, Tampa, San Antonio and Denver all saw tremendous pandemic-era demand, followed by an influx of new construction and inventory. Now, with buyers facing high mortgage rates and becoming much more selective, sellers are having to adjust their expectations.
In other words: the days of simply putting an aggressive price on a home and expecting multiple buyers to fight over it are becoming much less common. ๐ฌ
๐๏ธ ๐๐๐ ๐๐๐๐ ๐๐๐๐๐โ๐ ๐๐๐ ๐
๐๐๐๐๐๐๐๐โฆ
At first glance, a 3.9% decline in price per square foot seems surprising for such a competitive market.
But the story may be more complicated.
San Franciscoโs median listing price is still a whopping $908,700, yet it is down 5.2% year over year.
And according to experts, the decline may have less to do with homes suddenly becoming less valuable and more to do with WHAT is being listed for sale.
There are fewer smaller, expensive homes in the heart of the city โ properties that tend to command a very high price per square foot.
Meanwhile, more larger and relatively less expensive-per-square-foot homes are coming onto the market in the surrounding suburbs.
๐ So the headline number doesnโt necessarily mean that every homeowner in San Francisco just lost 3.9% of their homeโs value.
Thatโs an important distinction for homeowners and buyers alike.
๐ฐ ๐๐๐๐ ๐๐๐๐ ๐๐๐๐ ๐๐๐๐ ๐
๐๐ ๐๐๐๐๐๐?
For buyers who have spent the last few years feeling completely priced out, there may finally be a little breathing room.
More inventory + more realistic sellers + less competition = more negotiating power for buyers.
But thereโs a catchโฆ
Mortgage rates are still high, and affordability remains a major challenge. A lower home price doesnโt automatically mean a lower monthly payment.
And for sellers, this market is sending a pretty clear message:
๐ Pricing your home correctly from day one matters more than ever.
The question now is whether these declines are simply a post-pandemic normalization โ or the beginning of a much larger shift in certain regional housing markets.
๐ As we head into the fall buying season, mortgage rates, local employment trends, inventory levels and buyer demand could tell us a lot about where the market goes next.
๐ ๐๐๐๐ ๐๐ ๐๐๐ ๐๐๐๐๐?
Are home prices finally becoming more affordable โ or are we just seeing a temporary correction after the pandemic housing boom?
๐ ๐๐ก๐๐ญโ๐ฌ ๐ก๐๐ฉ๐ฉ๐๐ง๐ข๐ง๐ ๐ข๐ง ๐๐๐๐ ๐๐ข๐ญ๐ฒ?
๐ Drop your city in the comments โ Iโd love to hear what youโre seeing on the ground!
