September’s housing trends offer some clear signals for anyone navigating the Massachusetts market right now. Pending home sales have finally turned slightly negative year-over-year after eight months of steady gains, a shift that reflects how rising borrowing costs are starting to tap the brakes on buyer activity. We’re seeing contract signings ease, homes taking about 60 days to sell, and mortgage rates drifting from roughly 6% in late Q1 to the high-6% range at present. For buyers, there’s a bit more leverage than earlier this year: the median list price has dipped to $424,500, price cuts now affect around 20% of listings, delistings are down compared to last year, and active inventory is up by about 4%. Still, national inventory remains about 11% below what we’d expect in a typical pre-pandemic year, illustrating that supply is tight even as some buyers pause. As someone who tracks both local and broader market signals—especially here in Greater Boston and Canton—I’m watching how sellers adjust pricing strategies, what’s happening with delistings, and whether we’ll see regional differences continue to shrink as everyone adapts to this firmer rate environment.
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