We’re seeing some significant shifts in the national housing landscape: By late Q3, the average US buyer faced a monthly payment of $2,600—the highest in 14 months. This reflects both climbing mortgage costs and a national median sale price now around $399,000 (up about 2% from last year). For buyers here in Columbus and throughout Central Ohio, these numbers mean a continued squeeze on affordability and a more competitive environment, especially as pending sales remain steady month-over-month but lower than last year.
Mortgage-purchase applications have dipped slightly, and while new listings dropped around the holidays, they’re still modestly ahead of last year’s pace. What stands out to me as a local real estate advisor: about 21% of active listings nationwide have had to cut prices, showing how strategic pricing is more critical than ever. Overpricing can stall interest, but a well-calibrated approach draws attention and action—even in a tighter market.
Inventory is finally showing some improvement, with active supply up about 2% year-over-year to 1.5 million homes, and overall supply approaching four months. Still, we’re not at “balanced market” territory yet. My focus remains on helping clients—whether you’re a first-time buyer, investor, or looking at new construction—navigate these realities with clarity and confidence, ensuring you’re positioned for long-term value.
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