Mortgage costs have climbed to a 14-month high, with the typical US buyer now looking at a monthly payment of $2,600 by late Q3. While the national median home-sale price inched up about 2% year-over-year to nearly $399,000, many families are feeling the squeeze—affordability is a real challenge, and pending sales have held steady month over month but are still down from last year. I’m seeing this firsthand here in Biloxi: buyer interest is steady, but careful pricing is more important than ever. About 21% of sellers nationwide have made price cuts to attract attention, and it’s true—thoughtful pricing draws in serious buyers, while overpricing tends to create hesitation. Inventory has grown, too, with active supply up 2% to 1.5 million homes and close to four months of inventory—still a bit shy of a balanced market, but a step in the right direction. It’s a complex landscape, but with the right guidance and a clear strategy, you can still make smart moves whether you’re buying or selling. As someone who’s helped Biloxi families navigate every kind of market, I know that a little local insight can make all the difference.
Leave a Reply