We've seen a notable shift in the U.S. housing market recently, with the price per square foot dipping year-over-year in 36 of the 50 largest metro areas by mid-Q3. Nationwide, prices per square foot declined about 2% compared to last year—marking the tenth consecutive month of softening. As we moved through late Q3, momentum slowed further; some sellers adjusted their expectations, cutting list prices more aggressively to find common ground with buyers. High mortgage rates are still challenging affordability, particularly in markets that experienced rapid growth during the pandemic. As inventory levels in many areas now sit above pre-pandemic norms, even the hottest boom markets are giving back some of their earlier gains. In Central Ohio, I've helped clients navigate similar market dynamics—whether it's finding the right new build, evaluating land options, or strategizing around resale opportunities. My focus remains on bringing clarity and confidence to your real estate journey, ensuring your interests are protected as the market evolves.
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