US Existing Home Sales Hit a 14-Month Low | For more info please visit me here: https://hansoregonhomes.com/

As someone who’s helped clients navigate the Salem and Willamette Valley markets since 2023, I’m always watching national trends that shape our local experience. Recently, existing home sales across the US dipped below 4 million in mid-Q3, marking a 14-month low at a 3.98 million annual pace—down 2% month-over-month. What does this mean for buyers and sellers here? With a 30-year fixed mortgage averaging near 7% and supply reaching 4.9 months, buyers are seeing more options as listings build up nationwide. The median existing-home price hit $429,100 in mid-Q3, a record for this time of year, especially as higher-priced homes remain the most active segment. Even with these shifts, rising wages and steady job gains continue to support buyer demand. It’s also interesting that first-time buyers made up 30% of purchases, and cash deals accounted for 27%, with homes typically spending 31 days on the market. If you’re weighing your next move in Salem, Aumsville, or anywhere in the Willamette Valley, staying informed about these trends can help you make the most of current opportunities.