September Market Overview
September’s housing market reflected a steady adjustment as prices and activity leveled out. Median sales prices dipped from last month and last year, creating new opportunities for buyers and encouraging realistic pricing from sellers. Negotiation has become a normal part of the process again, and sellers who price strategically from the start are still seeing strong results.
New listings declined slightly as some homeowners opted to wait for more favorable conditions, helping keep overall inventory mostly stable. Pending sales softened month-over-month and year-over-year, yet the market remains active with a healthy balance of available homes. As median days on market continue to rise, some sellers are taking a thoughtful pause—using the time to refresh their strategy and return stronger later in the season.
Even with the wider gap between list and sale price, well-positioned homes continue to command attention. The percent of list price received shows that accuracy upfront pays off, while steady showing-to-pending ratios remind us that engagement remains consistent. With buyers becoming more confident and sellers adapting to evolving conditions, the market is finding its footing and setting up for a more balanced close to the year.
Mark Daker of Ameris Bank Insights
Mortgage rates in September continued to hover near year-to-date lows, with movement largely tied to economic data and shifting Fed expectations. Early in the month, a weaker employment report pushed rates to their lowest levels since 2024, as markets grew increasingly confident that the Fed would begin cutting rates soon.
While brief attempts to push rates lower ultimately stalled, the fact that they held steady near multi-year lows reflected growing optimism for future declines. Mid-month, the Fed followed through with a 0.25% rate cut—an action widely anticipated and already priced in—leaving mortgage rates mostly unchanged but reinforcing the outlook for additional cuts ahead.
The month closed quietly, with limited economic news and inflation readings coming in as expected, allowing rates to stabilize after recent swings and maintain their position at the low end of the year’s range.
