Watching the housing market shift is always fascinating, and lately we’re seeing some real changes—especially for those of us keeping an eye on trends across the country. In Mid-Q3, the price per square foot dropped year over year in 36 out of the 50 largest U.S. metro areas, signaling a clear cooling in many of the biggest housing markets. Nationwide, that same measure slipped about 2% from last year, making it the tenth month in a row we’ve seen this kind of softening.
As the quarter wrapped up, I noticed more sellers were willing to cut their asking prices, meeting buyers halfway and adjusting to today’s realities. High mortgage rates have made affordability a real challenge, particularly in areas that saw rapid price growth during the pandemic. Now, those markets are giving back some of their gains, with inventory levels even above what we saw before 2020.
With 23 years helping Biloxi families and investors navigate changing tides, I understand how important it is to stay informed and realistic—especially when making big decisions. Whether you’re weighing your next move or just keeping tabs on the market, it’s always worth paying attention to what these national shifts could mean for our own neighborhoods.
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