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Nationally, builder incentives have challenged the long-held belief that new homes always cost more per square foot, creating fresh value comparisons for buyers weighing options.
The shift reflected two supply pressures: builders needed to move completed homes, while many owners stayed put, keeping existing inventory tighter and resale competition firmer.
For much of the previous decade, new homes usually carried a premium, but market conditions flipped that pattern as builders cut prices and expanded incentives.
The key takeaway for buyers: negotiation power is strongest where builders hold enough inventory, while areas with scarce construction can still favor resale sellers.
Looking ahead, buyer leverage may depend on how permitting and construction progress, because the current discount could narrow if new-home building slows.

By Late-Q3 2026, US active listings were ↑~6% yearly, the third straight month of faster yearly growth, giving buyers a bit more leverage.
That gain followed a softer stretch: annual growth had slowed to ~2% in Late-Q2 2026, far below the ~17% pace recorded a year earlier.
National inventory still sat just under pre-pandemic levels in Late-Q3 2026, with 1.16M active listings, roughly ~5% below the comparable 2019 benchmark.
With mortgage rates and long-term yields at two-yr highs, demand cooled; with the slower season underway, buyers saw a little more negotiating room.
For a sharper local read, compare current active listings per 1K households with the 2018-2019 avg. to see whether supply is above pre-pandemic norms.

Lately, I've been hearing more questions about whether it's wise to wait out the current housing market. As borrowing costs climb, the true cost of delaying a purchase is rising too—higher rates mean that waiting could actually end up increasing your future monthly payments if financing conditions stay the same. Many buyers hope for falling prices, but at the moment, home values aren’t dropping fast enough to cancel out these elevated financing costs. So, holding out for a bargain may not guarantee a better deal overall. That said, there are still negotiating opportunities in certain markets—especially where inventory has improved and sellers are eager for offers. From my experience advising clients throughout our local market, it’s more important than ever to weigh the full picture: not just interest rates, but total financing costs, current pricing, and your negotiating leverage. Every situation is unique, and a tailored approach helps you make the right move for your goals and budget.

As mortgage rates remain above 7%, affordability is understandably top of mind for many buyers. At ACME Real Estate Company, I keep a close watch on these trends to help my clients make informed choices, especially as Treasury yields continue to push borrowing costs higher and the market anticipates further Fed moves. If you’re planning ahead, consider this insight from a recent study: building a rate cushion is key—think about budgeting for a half-point increase over 3 months, three-quarters over 6 months, and a full point within a year. What I’ve seen in the local market aligns with the data: buyers later in the year often have more leverage, with typical home prices about 5% lower in Early-Q4 compared to Late-Q2, plus fewer competing offers and extra room to negotiate. With inventory sitting at about a 5-month supply last month, buyers have had stronger bargaining power—whether on price, closing costs, discount points, or even temporary rate buydowns. While the market is still reacting to potential Fed tightening, the long-term focus remains on cooling inflation, which could eventually bring mortgage costs back down. My approach is always to help you navigate these shifts with strategies that fit both your goals and the realities of today’s market.

As we move through late Q3, there’s a noticeable shift giving buyers more room to negotiate: about 21% of active listings have seen price cuts, and inventory has climbed above 1.16 million homes—now within 9% of the typical pre-pandemic levels. Buyer activity remains measured; homes going under contract are down roughly 4% year-over-year for the second month in a row, a reflection of how higher mortgage costs are still impacting affordability. The national median list price sits at around $419,000, down just over 1% both month-over-month and year-over-year, continuing an 11-month streak of annual declines. Price per square foot has dropped about 2% from last year as well. Sellers are mostly staying the course, with only about 6% of listings delisted—virtually unchanged from last year—but more owners are reducing prices and opening up room for negotiation. The real test ahead: will these additional price reductions entice more buyers to sign contracts, or will we see this period of adjustment stretch out as supply grows and demand softens further? I’m closely tracking these trends at ACME Real Estate Company, always ready to translate market movement into practical strategies for your next move—whether you’re looking to maximize your sale or find your ideal fit in today’s evolving landscape.