With over 35 years as a full-time real estate broker, I’ve seen firsthand how shifts in market data can change the balance between buyers and sellers. As we moved through late Q3, approximately 21% of active listings experienced price reductions, and inventory climbed to over 1.16 million homes—now within about 9% of what we would consider typical pre-pandemic levels. Buyer activity remained measured, with homes under contract dropping around 4% year-over-year for the second consecutive month. This reflects how higher mortgage costs are still impacting affordability for many. The national median list price hovered at around $419,000, down about 1% both month-over-month and year-over-year, making it the eleventh straight month of annual price declines; price per square foot also slipped by about 2% compared to last year. Sellers are largely staying in the game, with roughly 6% of listings being delisted—about the same as last year—while more homeowners are open to negotiations and price adjustments. The real question ahead is whether these additional price cuts will spur more contracts, or if a growing supply and cautious demand mean this period of adjustment continues. Experience tells me that understanding these nuances is key to making the right move in any market.