10/06/2026
🏡 HOME BUYERS -NOW may be the time to make your move.
Yes, mortgage rates are higher than we’d all like. But there’s another side of the equation that buyers shouldn’t overlook:
You have leverage right now.
According to the September 2026 housing report from Realtor.com:
📉 20.8% of homes nationwide had a price reduction — the highest share for any month since October 2022.
🏠There are now more than 1.16 MILLION homes for sale nationwide, bringing inventory closer to pre-pandemic levels.
And here in the Minneapolis–St. Paul market, the numbers are even more interesting:
➡️ Inventory is UP 31.2% from last year
➡️ 23% of listings have had a price reduction
➡️ The median list price is DOWN 4.1% year over year
What does that mean for buyers?
More homes to choose from.
More motivated sellers.
More price reductions.
And potentially more opportunity to negotiate on price, closing costs, seller-paid rate buydowns and other concessions.
You don’t necessarily need to wait for interest rates to fall to get a better deal. If rates eventually come down, refinancing may be an option but you can't go back and renegotiate today's purchase price after buyer competition returns.
The first step is finding out what you can comfortably afford and what opportunities are available right now.
Get pre-approved with one of the top-rated, Google-reviewed local loan officers in the area, with over 10 years of mortgage lending experience.
📲 Justin Larson | Summit Mortgage Corporation
NMLS #1490922
Licensed in MN, WI, TX & FL
Let’s run the numbers and see if today’s buyer-friendly market creates an opportunity for you.
