Housing affordability is on everyone’s mind lately, and I’m watching the landscape shift in real time. We’re seeing more sellers offer concessions, which can give buyers a bit of breathing room—even as borrowing costs remain the major hurdle. With Treasury yields holding near 5% and average 30-year mortgage rates now topping the low 7% range, those financing costs are stretching budgets thin. In the four weeks ending September 13, the median monthly mortgage payment rose to about $2,600—up around 3% from last year—making it clear just how much rates impact affordability. The resale market is especially tight, as many homeowners with low-rate loans are choosing to stay put, keeping listings limited. At the same time, sellers are often still aiming for those pandemic-era prices. What I’m hearing from industry peers matches my own experience: this is a correction toward greater stability, not a crash. Strong equity positions, solid lending practices, and creative opportunities remain for both buyers and sellers—whether you’re navigating REO properties, traditional homes, or something in between.
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