Author: Michelle Wood

It’s been a challenging stretch for homebuyers across the US—by late Q3, the typical monthly payment reached $2,600, the highest point in 14 months. This came as mortgage costs continued to climb and median sale prices held steady, with the national median home-sale price nudging up about 2% over last year to roughly $399,000. That’s put real pressure on affordability, and as a result, pending sales stayed flat month-over-month and actually slipped compared to last year.

I’ve seen firsthand how these numbers play out here in Biloxi, both for families looking for their first home and for seasoned investors. When you’re facing higher costs, a thoughtful seller strategy really matters. About 21% of active listings nationwide made price cuts, and as one agent put it, pricing sharply can draw in buyers—while overpricing tends to make folks hesitate. It’s a balance we work hard to get right.

Inventory is also showing signs of improvement, with active supply up around 2% year-over-year to 1.5 million homes, and supply hovering near four months—still not quite a balanced market, but moving in the right direction. For anyone feeling overwhelmed by the numbers, know that you’re not alone. Whether you’re searching for a new place to call home or thinking about listing, I’m always here to share what’s happening on the ground and help you make informed decisions.

It’s been a quiet stretch for US mortgage applications lately, with borrowing costs holding steady and not much movement to encourage buyers or refinancers to jump in. I’ve noticed this firsthand in Biloxi—buyers are pausing, and purchase applications dipped by 2% (seasonally adjusted), or 3% on an unadjusted basis across the country. Even those looking to refinance are holding back, with only a slight 2% uptick and refinancing making up about 42% of all applications. Those working with larger loans are especially cautious right now.

Affordability challenges and a bit of uncertainty are making some folks wait before making their next move, but there’s a hint of optimism: VA loan applications ticked up, now at 12.6%. The 30-year conforming rate is hovering close to 7%, and with no central bank rate cuts expected through 2026, patience is the name of the game for many.

Having helped Biloxi families and investors navigate all kinds of markets, I know these moments call for local insight, a steady hand, and trust in the process. If you’re feeling unsure, you’re not alone—sometimes, waiting and watching is the wisest move.

By 2030, Americans over 80 are projected to add 5M people, roughly a third more than today, then nearly double by 2040.
To keep up, the US needs 576K units by 2030 and 1M by 2040, requiring $1T in new senior housing investment nationwide.
Construction slump plus aging stock: only ~10K new senior units started in 2025, one-third of 2021, while ~40% of existing inventory is >25 yr old.
Market fundamentals improved as slower building let existing units fill: occupancy rebounded to ~93%, strongest in ~10 yr, while absorption averaged ~32K yearly.
Experts said if construction stays slow, scarcity could grow, making more appealing right-sized homes and lower move-related costs important for older Americans considering downsizing.

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.

This Charming Bayou View Cottage is Renovated & Move-In Ready! ROOF is less than one year old! OVERSIZED LOT with access at rear of home and drive is at the rear as well. Fully fenced corner lot in good condition. Perfect location, central to Navy Base and Keesler Air Force Base. Manageable floor plan, with comfortable and easy to maintain living spaces. Close to shopping and casinos. Storage shed and workshop. Dishwasher is brand new. Currently shown in FEMA Flood zone X. Close by airport, with newer windows. This charming cottage is full of personality and recent upgrades. Step inside to find fresh paint, new flooring, and a beautifully updated kitchen and bath. The kitchen features a stainless steel refrigerator, garden window, and plenty of natural light. You'll love the spacious, open living and dining area, where newer windows make the home feel bright, airy, and more expansive than expected. Storage shed/workshop. This home offers a perfect blend of comfort, convenience, and Gulfport charm! Buyer and/or buyers agent to verify all pertinent information pertaining to the sale of the property.

**INVESTMENT OPPORTUNITY NEAR THE MISSISSIPPI GULF COAST!** Discover the possibilities at **622 Honeysuckle Lane in Bay St. Louis, MS.** Situated on approximately **0.46 acre**, this property offers an excellent opportunity for an investor, builder, or buyer looking to create a coastal getaway, future homesite, vacation retreat, or income-producing property. Enjoy the laid-back Bay St. Louis lifestyle with easy access to the area's beautiful beaches, boating, fishing, dining, shopping, entertainment, and charming Old Town atmosphere. Whether you're looking to build and hold, develop for resale, or create your own Gulf Coast escape, this property offers plenty of potential in one of the Mississippi Coast's most desirable communities. **Bring your plans, your beach-house vision, and your investment ideas!** Buyer and/or buyer's agent to verify all information important to the purchase, including lot dimensions, zoning, building requirements, utilities, access, flood zone, and intended use. Buyer and/or buyers agent to verify all pertinent information pertaining to sale. Sold as is/where is.