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We’re seeing a shift in the market: 20.4% of active listings have experienced price reductions. Nationally, homes going under contract dipped by less than 1% in mid-Q3, breaking an eight-month streak of rising activity. This slowdown reflects the impact of higher borrowing costs, with the average 30-year fixed mortgage peaking at around 6.7% early in the quarter and finishing more than 20 basis points above where it started. Despite softer demand, properties are still moving—median list price dropped to $424,500, active listings climbed about 4%, and new listings edged down. Notably, fewer sellers are stepping away, as delistings fell by roughly 13%. Slower activity is giving buyers more negotiating power, while strategic pricing remains key for sellers to get deals done. As we look ahead, steadier mortgage rates—rather than just lower ones—could influence seller decisions. If rates hover near 6.7%, expect some sellers to cut prices further or reconsider listing. Every market presents new opportunities and challenges, and my focus remains on guiding clients throughout the Willamette Valley with clear insights and a steady hand.

Builder confidence has dipped to its lowest point in a year, with the latest index dropping 3 points to 32 in late Q3. Sales conditions are also feeling the pressure, holding at 35, and expectations for the next six months have slipped to 37. Prospective buyer traffic remains steady at 23, but more builders are adjusting—38% nationwide have cut prices, and incentives are now being used by two-thirds, up from 63% earlier in the quarter. It’s clear the current mortgage environment is playing a major role, with average 30-year rates still in the high-6% range and applications for new-home purchases falling for the fifth month in a row. Large builders continue to make use of rate buydowns to help buyers secure below-market mortgages, which is keeping some momentum in sales without relying solely on price cuts. Forecasts suggest we could see these higher rates persist through 2027. As someone guiding buyers and sellers here in Salem and the Willamette Valley, I keep a close eye on how national trends shape our local real estate landscape, so my clients can make informed decisions in a shifting market.

We're seeing U.S. housing inventory continue its slow, steady climb. By mid-Q3 2026, there were 1.14 million active listings across the country—up about 4% from last year’s 1.1 million. While that’s still growth, it’s a much gentler pace compared to the sharp 21% surge we saw the year before. Inventory gains had dipped to roughly 2% growth in late Q2 before ticking up again. As of mid-Q3, 18 states and DC have surpassed their pre-pandemic 2019 inventory numbers, even though, nationwide, we’re still about 8% below those levels (1.14 million now versus 1.24 million then). The rapid post-boom cooling has settled into a softer market, with prices mostly flat year-over-year. Higher yields and mortgage rates remain a factor to watch, as they could shape momentum moving forward. I keep a close eye on these trends to guide clients in Salem, Aumsville, and the Willamette Valley, helping them make informed decisions in an ever-shifting landscape.

Indigenous Peoples’ Day celebrates, recognizes, and honors the beautiful traditions and cultures of the Indigenous People
We take a stand for and support the indigenous people on this day.
We should also offer our support to those who invest and uplift the indigenous communities.

In the latest rolling 3-month period ending mid-Q3, nearly 45% of U.S. home sales involved seller concessions—the highest share for this point in the year since at least 2020. That’s a notable increase from about 43% a year ago, reflecting a shift: buyers are finding more room to negotiate as inventory grows and competition eases. Concessions in this market have included help with repairs, assistance with closing costs, or even mortgage-rate buydowns—giving buyers creative ways to lower their total purchase costs beyond just seeking a price cut. More sellers are using closing cost credits and rate buydowns as negotiation tools, changing the traditional approach and offering buyers additional flexibility. Nationally, about 16% of homes sold in mid-Q3 combined a price reduction with a concession, making it even easier for buyers to enter the market. As someone guiding clients through Salem, Aumsville, and the Willamette Valley, I see how these trends are reshaping conversations at the negotiation table and opening up fresh opportunities for buyers and sellers alike.