If you’ve been in the market lately, you’ve noticed the same thing I have: things feel… quiet. Rates are flirting with 1-year lows, refinances are popping, yet actual sales? Still playing hard to get. Let’s unpack why—and what it means for your next move.

Prices & Uncertainty > Lower Rates

Yes, mortgage rates are down. But buyers aren’t biting—here’s the real story:

1. They’re waiting for the next cut Everyone’s glued to the Fed, expecting rates to drop even lower. Truth? Those cuts are already baked in . Our Director of Research, Coury Napier, calls it: rates likely stay in the low-to-mid 6s through year-end .
2. It’s not just rates—it’s affordability Home prices are at record highs and still climbing . In most markets, renting is cheaper than buying . Add in fiscal chaos and a government shutdown? Buyers want stability before they commit. → Proof: Homes took 50 days to go under contract in September—slowest in nearly a decade.

Inventory & Buyer Power Up

Good news if you’re shopping: more homes, less competition .

• Sellers outnumber buyers in most areas
• More discounts, fewer over-ask offers
• Buyers who can move? They’re winning.

Result: Highest pace of existing-home sales in 7 months .

Luxury and new development? Still red-hot—especially in NYC, where bulk closings powered Q3.

Bottom line: If you’re waiting for “perfect” conditions, you might wait forever. But if you’re ready? This is your window —more choices, real leverage, and values still trending up.