09/14/2026
Fewer buyers… but home prices are still holding strong. Why?
It comes down to supply.
Nearly 80% of homeowners have mortgage rates well below today’s rates, giving many little incentive to move or list their homes. With fewer homes hitting the market, prices have remained surprisingly steady rising in 80% of tracked metros.
At the same time, buyers are feeling the affordability squeeze. Pending sales are down, and even an increase in starter-home inventory hasn’t been enough to bring buyers back.
Sellers are beginning to adjust, too, with asking prices coming down as expectations meet today’s market.
The takeaway: Home prices may not be climbing quickly, but limited supply is keeping them from falling significantly. For many buyers, the biggest hurdle isn’t finding a home, it’s affording one.
