Mortgage costs are making headlines again, reaching a 14-month high with the typical U.S. buyer’s monthly payment now at $2,600 by late Q3. Home prices held steady, with the national median up about 2% year-over-year to $399,000—squeezing affordability and keeping pending sales flat compared to last month, and lower than last year. I’m seeing this shift reflected in our unique Outer Banks market as well, where every pricing decision counts. Around 21% of active listings nationwide reduced their price recently, underscoring how sharper, strategic pricing draws more attention, while overpricing can cause hesitation among buyers. Inventory is also on the rise, with active supply up about 2% to 1.5 million homes and close to four months’ supply, though we’re still not quite in balanced territory. Even as new listings dipped slightly—likely due to holiday timing—they’re still a bit higher than this time last year. In a market like ours, thoughtful pricing and smart listing strategies really make the difference. With nearly 20 years navigating the ins and outs of Carova’s exclusive coastal community, I know how to help clients maximize their property’s potential and adapt to the changing landscape.
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