Mortgage costs have reached a 14-month high across the US, with the typical buyer’s monthly payment now at $2,600 by late third quarter. As median home-sale prices held steady—up about 2% year-over-year to $399,000—affordability continues to be a challenge for many. We’re seeing this reflected in flat pending sales month-over-month and a dip compared to last year. Even mortgage-purchase applications have slipped slightly, while new listings also dipped due to seasonal holidays, though they’re still modestly ahead of the same period in 2025. What stands out in this market is the importance of pricing: about 21% of active listings cut their prices recently, and it’s clear that sharper pricing is drawing more attention, while overpricing can lead to hesitation among buyers. Inventory has ticked up around 2% year-over-year to 1.5 million homes, but with supply near four months, we’re still not quite at a balanced market. In West Michigan—whether you’re considering waterfront, single-family, condos, or new builds—navigating these shifts requires a focused, experienced approach. Our team’s deep local knowledge and commitment to smart strategy help clients make sense of today’s numbers and find the right path forward.
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