Navigating the High Desert market means staying on top of the latest trends, and recently, I’ve seen price reductions reach 20.4% of active listings nationally. Homes going under contract slipped by less than 1% in Mid-Q3, which ended an eight-month streak of steady gains as higher borrowing costs put pressure on buyers. The average 30-year fixed mortgage peaked around 6.7% early in the quarter, remained high for several weeks, and wrapped up more than 20 basis points above where it started. Despite this, our market activity stayed resilient: the national median list price dropped to $424,500, active listings climbed by about 4%, and new listings edged down just a bit. Fewer sellers chose to step back—delistings fell around 13%—and the slower pace gave buyers a bit more time and flexibility. Sellers who priced strategically still found success. As we look ahead, it’s clear that steadier mortgage rates could be just as important as lower ones. If rates hover near 6.7%, we may see more price adjustments or listings pulled from the market. I’m committed to helping my clients make informed decisions, no matter how the numbers shift—because real estate isn’t just about properties, it’s about building the life you envision.
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