As we move through early Q3, the real estate landscape continues to present both challenges and opportunities. US existing-home sales dipped by 1.7% month-over-month but still managed a 0.7% increase compared to last year—evidence that transaction volume is holding steady above last summer’s pace. Median existing-home prices have climbed to $434,100, marking a remarkable 37-month streak of year-over-year gains. For many homeowners, that means additional equity to consider, whether you’re thinking of selling, refinancing, or simply keeping a close eye on your investment’s value.
Inventory remains tight, ending early Q3 at 1.54 million homes—down 1.9% from the previous month and 0.6% from last year. For buyers, this underscores the importance of staying informed and acting quickly when a promising listing appears. On a positive note, housing affordability has improved nationwide even as prices have risen, signaling that being prepared and strategic can make all the difference when the right opportunity comes along.
Mortgage rates have recently averaged in the high 6% range for a 30-year fixed loan. Any downward movement could open up even more possibilities for buyers as we progress through the summer market. Having a trusted partner who understands both real estate and mortgage financing can make navigating these shifts much smoother—I’m here to provide that expert, personalized guidance every step of the way.
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