We've been seeing a noticeable shift in home prices across major metros lately. In Mid-Q3, the price per square foot dropped year-over-year in 36 out of the 50 largest U.S. metro areas, signaling a broader cooling trend in the housing market. Nationwide, prices per square foot dipped by about 2% compared to last year—making this the 10th consecutive month we've seen this softening. Toward the end of Mid-Q3, the market lost some of its momentum, and I noticed more sellers adjusting their asking prices to better align with what buyers are willing to pay, especially with high mortgage rates putting pressure on affordability. Many markets that saw huge gains during the pandemic are now giving back some of those increases, a trend supported by inventory levels that are higher than before the pandemic. Having spent decades running my own business and now calling Northern Arizona home for over 30 years, I’m dedicated to helping clients navigate these shifting conditions with confidence and clarity. To me, it’s all about making the experience as smooth as possible—and building lifelong friendships along the way.
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