Housing affordability continues to be a major focus for so many families right now, and navigating these changes has never been more important. Lately, we've seen clear signs of housing disinflation—sellers are offering more concessions and, in some cases, that’s opening up real savings for buyers still determined to make homeownership a reality. Yet, the biggest challenge remains borrowing costs: with benchmark Treasury yields hovering around 5% and the average 30-year mortgage rate now above 7%, the numbers are stretching budgets. Just look at the median monthly mortgage payment, which reached about $2,600 in the four weeks ending September 13—a 3% jump over last year. That’s a real impact for buyers considering their next move. At the same time, the resale market is still tight, as many homeowners stick with their low-rate loans and listings remain scarce. Meanwhile, sellers are often holding out for prices reminiscent of the pandemic market. Despite all this, industry experts see these conditions as a correction toward stability—not a crash—with strong equity and sound lending creating opportunities on both sides of every deal. After helping West Valley buyers and sellers for over 20 years, I know how important it is to stay informed and adaptable in times like these.
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