Keeping a close eye on the latest numbers, I’ve noticed that US existing-home sales in early Q3 dipped 1.7% from the previous month but still managed to edge up 0.7% compared to last year. This tells me that, even with a minor month-to-month slip, the market remains a bit stronger than last summer’s. The median price for existing homes hit $434,100, marking the 37th consecutive month of annual price growth—a trend that’s certainly boosting homeowner equity and something I always track for my sellers and investors.
Inventory remains tight, ending Early-Q3 at 1.54 million homes (down 1.9% month-over-month and 0.6% year-over-year). For buyers, especially here on the Mississippi Gulf Coast, that means watching new listings as they appear is key. Despite rising prices, housing affordability has actually improved nationally, opening the door for well-prepared buyers to make their move when the right opportunity comes along. With mortgage rates lately averaging in the high-6% range for a 30-year fixed, any drop could further support those looking to buy as we move through the summer market.
With over two decades of experience and a deep understanding of both residential and investment properties, I’m always here to help you navigate these shifts—whether you’re searching for your next home, planning a military move, or seeking a smart investment.
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