Homebuyers get an advantage in dozens of US cities
Prospective homebuyers are finding new advantages across dozens of United States cities as rising mortgage rates above 7 percent cool demand, increase housing inventory, and prompt sellers to offer price cuts and concessions. However, buyers face a steep price through reduced purchasing power and mounting ownership expenses. Realtor.com reported that its national market clock sits at 4 o'clock following a one-hour shift, while pending home sales fell sharply as elevated borrowing costs continue to reshape the broader residential real estate market.
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- ✓ Rising mortgage rates are shifting the housing market toward a buyer's market in dozens of U.S. cities with more inventory, price cuts, and concessions.
- ✓ U.S. mortgage rates above 7% are reducing the purchasing power buyers have available.
- ✓ Realtor.com's market clock report for the third quarter found that the national market clock sits at 4 o'clock after shifting one hour.
- ✓ Hidden costs of homeownership have increased by nearly one-third in the last five years due to expenses like insurance, maintenance, and property taxes.
What changed
Realtor.com released its third-quarter market clock report showing the national index sitting at 4 o'clock after shifting one hour.
Live updates
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Homebuyers Gain Leverage in Dozens of Cities Despite High Rates
Prospective homebuyers are finding new advantages across dozens of United States cities as rising mortgage rates above 7 percent cool demand, increase housing inventory, and prompt sellers to offer price cuts and concessions. However, buyers face a steep price through reduced purchasing power and mounting ownership expenses. Realtor.com reported that its national market clock sits at 4 o'clock following a one-hour shift, while pending home sales fell sharply as elevated borrowing costs continue to reshape the broader residential real estate market.
Why it matters
Elevated mortgage rates are altering market dynamics across multiple metropolitan areas, forcing a transition toward buyer-friendly conditions characterized by higher inventory and more negotiating room. At the same time, hidden ownership costs such as property taxes, insurance, and maintenance have climbed significantly over the past five years. This tension leaves buyers navigating a landscape of improved deal availability alongside constrained purchasing capacity.
What is confirmed
- Rising mortgage rates are shifting the housing market toward a buyer's market in dozens of U.S. cities with more inventory, price cuts, and concessions.
- U.S. mortgage rates above 7% are reducing the purchasing power buyers have available.
- Realtor.com's market clock report for the third quarter found that the national market clock sits at 4 o'clock after shifting one hour.
- Hidden costs of homeownership have increased by nearly one-third in the last five years due to expenses like insurance, maintenance, and property taxes.
- September pending home sales fell 7.3% to 66.0 amid 30-year mortgage rates sitting at 7.40%.
Still unconfirmed
- U.S. housing affordability is unlikely to return to pre-2022 levels as the market adjusts to higher costs and tighter supply.
- Eight specific U.S. cities could soon become buyer's markets where house hunters have more leverage.
What to watch next
- Upcoming monthly pending home sales reports from the National Association of Realtors
- Further adjustments to the Realtor.com market clock in subsequent quarters
- Changes in 30-year mortgage rates and their direct impact on buyer purchasing power
confidence 90%Sources used for this update (22)
- www.foxbusiness.com — Economy - Fox Business
- help.naver.com — Futures Flat As Oil Rebounds After Trump's "Energy Ceasefire" Unravels, Memory Stocks Slide | ZeroHedge
- Fast Company — These 8 U.S. cities could soon become buyer's markets. Here's where house hunters may have more leverage
- Fox Business — Homebuyers get an advantage in dozens of US cities — but pay a steep price
- MarketWatch — Meet the home buyers totally unfazed by 7% mortgage rates
- Yahoo — Are Homebuyers Finally Gaining Leverage? | Weekly Housing Outlook
- KSL News — Watching mortgage rates? Here's a reality check on the real estate market
- Realtor.com — Video: October 19, 2026, Economic and Housing Market Outlook
- U.S. News - Money — How Much House Can You Afford at 7% Rates? Calculate Your 2026 Homebuying Budget
- WSJ — America’s New Housing Market Is All About Luxury—and It Runs on Cash
- www.foxbusiness.com — Homebuyers get an advantage in dozens of US cities — but pay a steep price
- www.fox13news.com — Owning a home comes with a hidden price tag, and it's getting more expensive | FOX 13 Tampa Bay
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