September brought some important shifts in the U.S. housing market, and as a team dedicated to guiding buyers and sellers across Delaware, we’re always keeping a close eye on these trends. For the first time in eight months, pending home sales dipped slightly year-over-year, a sign that higher borrowing costs are starting to slow buyer activity. In addition, contract signings eased, homes took about 60 days to sell, and mortgage rates have climbed from around 6% in late Q1 to the high-6% range. For those actively searching, there’s a bit of good news: the median list price edged down to $424,500, nearly 20% of listings saw price cuts, and active inventory rose about 4%. Still, even with more homes on the market, national inventory remains about 11% below pre-pandemic levels—so the underlying shortage continues. As we help our clients weigh their options, we’re watching how seller delistings and pricing strategies evolve, and whether the gap between regions keeps narrowing as everyone adjusts to today’s lending environment. Our experience across Sussex County and all of Delaware lets us help you navigate these changes with confidence and clarity.
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