As someone who’s spent over two decades helping clients navigate real estate in Middle Tennessee, I’m always watching the national housing trends that shape our local market. In September, three key signals emerged: Pending home sales shifted slightly negative year-over-year, breaking an 8-month streak of growth as higher borrowing costs began to slow buyer activity. Homes are now taking about 60 days to sell, and mortgage rates have climbed from around 6% in late Q1 to the high-6% range. These shifts are changing the landscape—buyers are finding a bit more leverage, with the median list price dipping to $424.5K, price cuts on roughly 20% of listings, and a 4% increase in active inventory. Yet, even with more choices, national inventory remains about 11% below typical pre-pandemic levels, highlighting a continued housing shortage beneath the surface.
Experts are watching seller delistings, evolving pricing strategies, and whether regional differences will keep narrowing as borrowers and sellers adjust to these firmer rates. Here in Middle Tennessee, I see many of the same dynamics at play—whether you’re looking to buy, sell, or invest, understanding these trends is key to making confident decisions. My approach has always been rooted in market expertise and personalized guidance, ensuring you have clarity in a shifting market.
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