Article
This past week, not a ton has changed on the surface but what’s happening underneath is what matters.
Mortgage rates are still sitting in that mid-6% range, and buyers are staying more intentional. We’re seeing more second showings, more conservative decision-making, and a stronger focus on value.
That said, Pittsburgh is still very much a seller’s market right now. We’re sitting at about a 2-month absorption rate, which means demand is still outweighing supply. Well-priced homes are moving quickly, while anything even slightly off is starting to sit.
We’re in a bit of a split market....strong homes are getting action, but buyers aren’t chasing everything like they were earlier in the year.
Bottom line: strategy matters more than ever right now. Pricing, presentation, and timing are what’s separating deals that move from the ones that don’t.
If rates dip, things could heat up fast again. If not, expect this more balanced but still seller-leaning market to continue.