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.

Lately, we’ve seen mortgage costs reach a 14-month high across the US, with the typical buyer’s monthly payment now at $2,600 by late Q3. Even as median sale prices held steady, they inched up about 2% year-over-year to around $399,000—adding to affordability challenges for many. This has contributed to pending sales remaining flat month-over-month and lower than last year. Mortgage-purchase applications dipped slightly, and new listings declined in line with the usual holiday slowdown, though they’re still modestly above the same period in 2025. Seller strategy is proving crucial right now: about 21% of active listings cut prices, and sharper pricing has clearly helped listings stand out while overpricing tends to give buyers pause. On the inventory side, active supply has improved, rising roughly 2% year-over-year to 1.5 million homes, with overall supply close to four months—still just below what’s considered a balanced market. As someone serving buyers and sellers in Salem, Aumsville, and throughout the Willamette Valley, I know how important it is to stay informed and approach today’s market with a clear strategy.

Lately, we’ve seen the typical US homebuyer’s monthly payment climb to about $2,600—a 14-month high that’s making affordability a real challenge for many. Even as mortgage costs have risen, median home-sale prices have stayed firm, ticking up roughly 2% year-over-year to land near $399,000. This combination is putting extra pressure on buyers, and, not surprisingly, pending sales have remained flat month-over-month and are a bit lower than last year.

Mortgage-purchase applications have dipped slightly, and while new listings dropped a bit around the holidays, they’re still modestly above what we saw at this time last year. For sellers, strategy is key: about 21% of active listings made price cuts recently, and it’s clear that sharper pricing is drawing more attention, while overpricing is causing hesitation among buyers.

Inventory is showing some improvement—active supply is up around 2% compared to last year, with 1.5 million homes on the market and nearly four months of supply. Still, we’re not quite at a balanced market yet.

Working in Salem and the Willamette Valley, I see firsthand how these trends play out locally. Navigating these shifts takes careful attention on both the buying and selling sides. If you’re wondering how these numbers might impact your own plans, I’m always here to help you make sense of the market.

With persistent inflation and long-term Treasury yields staying elevated, the path back to lower interest rates looks less predictable than many hoped. As the Federal Reserve weighs inflation risks against signs of a slowing economy, the outcome is anything but clear. For buyers and sellers in Salem, Aumsville, and across the Willamette Valley, this means borrowing costs for homes could remain higher for longer—making every decision count just a bit more. In times like these, a balanced approach is key, as interest-rate uncertainty and fiscal pressures continue to shape our real estate landscape. As someone guiding clients through these changing conditions, I keep a close watch on how these shifts may influence your next move.

We’re seeing a shift across many major U.S. metro housing markets this Mid-Q3, as the price per square foot dropped year-over-year in 36 out of the 50 largest cities. Nationally, that metric declined about 2% compared to last year—marking the tenth consecutive month of yearly softening. The end of Mid-Q3 brought more noticeable price reductions from sellers eager to meet buyers where they’re at, as high mortgage rates continued to challenge affordability, particularly in markets that saw big gains during the pandemic. Some sellers are adjusting expectations, and inventory in many boom-era areas is now above pre-pandemic levels, helping to balance things out. As I guide clients through the Salem and Willamette Valley real estate landscape, I’m watching these trends closely to help both buyers and sellers make informed decisions in an evolving market.