10/19/2026
Market watch Monday Time!
As wisely stated by our broker Jim - the Market Is Down... but Not Out. Yes, transactions have slowed. Overall buyer activity has declined, and the market is facing some significant challenges. But buyers are still buying, sellers are still selling, and new listings continue to come onto the market. The market has taken a hit, but it is showing resilience.
What do the numbers suggest?
New Listings declined 9%, from 642 to 585, but remained 5% above the 558 posted during the same week in 2025. Pendings provided a bright spot, increasing 10%, from 174 to 192. Closed Transactions remained virtually flat at 402 but were 25% below the same week last year.
Active/Under Contract fell 21%, from 332 to 261, and was 24% below the same week in 2025. Coming Soon slipped a modest 5% to 155, while Price Reductions increased 15% to 671, the highest weekly number recorded this year. Back to Active improved slightly, falling 3% to 119. Back to Active improved slightly, falling 3% to 119.
One number worth watching closely is the combination of Pendings and Active/Under Contract, which has fallen for four consecutive weeks. This week, the combined total dropped 10.5%, from 506 to 453. Despite the increase in new Pendings, this downward movement suggests continued pressure on future Closed Transactions.
So, what is going on? Is the market bottoming out? Are we experiencing a correction? Or are we facing a longer-term challenge?
Let's put all of this into context.
Interest rates are higher, impacting affordability and the number of buyers able or willing to participate. Inventory has increased, creating more competition among sellers and reinforcing the importance of strategic pricing, presentation, and positioning to attract an increasingly discerning buyer pool.
And then there is the uncertainty that continues to linger in the background. Will the midterm elections in two weeks alter the economic landscape? Are some buyers waiting to see what happens before moving forward? How will geopolitical conflicts, including the war involving Iran, influence interest rates and consumer confidence? Will inflation moderate, giving people greater financial flexibility?
These are legitimate questions, but the answers remain uncertain. And uncertainty can influence decisions just as much as the conditions themselves.
So, where does that leave us?
One thing remains constant: Buyers, sellers, and real estate professionals who stay actively engaged in the market are better positioned to recognize and take advantage of opportunities than those waiting for the market to change for them.
Yes, the market is down, but it is certainly not out. Properties are still being listed, contracts are still being written, and transactions are still closing. Opportunity is always present. The challenge is recognizing where it exists and boldly taking action.
Never hesitate to contact us with questions via email at [email protected] or shoot us a PM Sandy Gardner Brill, Emily Miller & Mike Gardner.
