Author: Michelle Teitsma – Kim Munch

Indigenous Peoples’ Day celebrates, recognizes, and honors the beautiful traditions and cultures of the Indigenous People
We take a stand for and support the indigenous people on this day.
We should also offer our support to those who invest and uplift the indigenous communities.

There’s an interesting trend unfolding in the national housing market that’s worth a closer look—especially for those considering a move in Spring Lake, Grand Haven, or Muskegon. In Q2 2026, the median price for new single-family homes across the US was $410,700, while existing homes came in at $435,700. That $25,000 gap is the widest we’ve seen, and it continues a reversal that began in Q2 2024, when existing-home prices overtook new construction for the first time in years.

What’s fueling this? Many homeowners are holding onto their homes thanks to low pandemic-era mortgage rates, making fewer properties available. At the same time, builders are adapting—offering smaller homes on smaller lots and creative incentives to help buyers. It’s important to remember that these national numbers don’t always reflect what’s happening in our West Michigan communities. Factors like home style, lot size, and construction costs play a big role in shaping local prices.

By Q2 2026, new-home prices nationally dipped about 1% year-over-year, while existing home prices still grew—though at a slower pace (about 2%) after twelve quarters of steady increases. As a team that specializes in waterfront, single-family, condos, and new construction, we’re seeing these national trends play out in unique ways right here along the lakeshore. If you’re navigating your next move, understanding how these shifts impact our local neighborhoods can make all the difference.

It’s been an interesting season for US real estate, with existing-home sales dipping below 4 million in mid-Q3—hitting a 14-month low at a 3.98M annual pace. This 2% month-over-month decline points to a cooling in buyer activity nationwide. With 30-year fixed mortgage rates averaging near 7% during this period, and supply building to 4.9 months, buyers have found themselves with more choices as listings increase across the country.

Notably, the median existing-home price reached $429,100—a new mid-Q3 record—largely driven by strength in the higher-priced segment. Meanwhile, steady job growth and rising wages continue to underpin demand, and a larger pool of available homes is giving buyers more room to negotiate. First-time buyers accounted for 30% of purchases, with 27% of deals done in cash, and the typical home spent 31 days on the market.

Here along the lakeshore in Spring Lake, Grand Haven, and Muskegon, our team has seen these national trends reflected in our local market. As specialists in waterfront properties and single-family homes, we’re always watching how shifts in supply and demand can open new possibilities for buyers and sellers alike. Every season brings its own opportunities—for both newcomers and experienced clients—to make their next move with confidence.

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.

As we guide clients through the ever-evolving West Michigan market—including Spring Lake, Grand Haven, and Muskegon—we’re keeping a close eye on national trends that shape local experiences. By late Q3, the average US buyer’s monthly payment climbed to $2,600, marking a 14-month high as mortgage rates rose and median sale prices held steady. With the national median home-sale price up about 2% year-over-year to roughly $399,000, affordability remains a real challenge—something we’re hearing from both first-time buyers and those looking to move up. This affordability squeeze is one reason pending sales have stayed flat month-over-month and trailed last year’s levels.

We also note that mortgage-purchase applications dipped slightly, and while new listings slowed with the holidays, they’re still modestly above last year. Sellers are adapting: about 21% of active listings adjusted their prices, and we’ve seen firsthand how strategic pricing draws attention while overpricing can leave a home lingering on the market. Inventory is showing signs of improvement, with active supply up about 2% year-over-year to 1.5 million homes—nearing a four-month supply, but still not quite a balanced landscape.

Our team’s decades of experience—especially with waterfront and single-family homes—helps clients navigate these shifts. Whether you’re considering a move or weighing your options, understanding how national numbers translate to our lakeshore communities is key.