No real estate doom and gloom from me. Yes, the market has slowed down, particularly in some sectors and zip codes. Yes, inventory is up. Yes, we have seen a slight dip in prices. Real estate is a market. Like any other market prices go up and down depending on how buyers and sellers feel about things. But are these current shifts still within the range of normal? I think they are. Let's take a look at national median sales price (much lower than our local median which is roughly $500,000 more but our trend is reflected nonetheless.) Prices have been pretty stable for the past 4 years.
Sometimes it feels like the daily news continually paints a picture of doom and gloom but as you can see we are still in a stable range. How about inventory. Yes, it is up but the last year doesn't show any scary increase when you take out the traditionally low holiday season. With inventory up you would normally see prices drop more significantly but, again, that hasn't happened.
So what about mortgage rates? Yes, they are definitely up since the lows of the early 2020s but they have found a stability since 2023. For perspective, over the past four decades the 30-year fixed rate ranged from a 2021 low of 2.65 percent to a 1981 high above 18 percent. Yes, 18 percent! As of August 2026, the average 30-year fixed mortgage rate in the United States is around 6.65 percent to 6.71 percent, sitting near the historical midpoint of the past five decades according to the Federal Reserve Bank. That is important to note. We are at the median for mortgage rates right now.
All of this shows normalcy and stability and not a current real estate crash. Take a deep breath. Turn off the news. How can I help you reach your real estate goals?
Data from NAR and graphics from Keeping Current Matters
