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One thing I've been noticing over the past few weeks is that the Pittsburgh market feels a little more balanced than it did earlier this spring...but don't mistake "balanced" for slow.
Inventory has improved compared to where we were a year ago, which is giving buyers more options and reducing some of the urgency we saw throughout much of 2024 and 2025. We're seeing more listings hit the market, and buyers are taking a little more time before making decisions.
That said, well-priced homes in desirable neighborhoods are still moving quickly and generating strong activity. The biggest difference today is that buyers are becoming more selective. Homes that show well, are updated, and are priced appropriately continue to attract attention. Homes that are overpriced or need significant work are sitting longer and often requiring price reductions.
Mortgage rates continue to hover in the mid-to-high 6% range, which remains the biggest challenge for affordability. Even so, buyer demand has remained surprisingly resilient. Nationally, existing home sales just posted their strongest month of 2026, showing that many buyers are adjusting to the current rate environment rather than waiting on the sidelines.
Locally, Pittsburgh continues to benefit from something many other markets wish they had: affordability. While many major metro areas are experiencing significant affordability challenges, Pittsburgh remains one of the most attainable housing markets in the country, helping keep demand relatively steady despite higher interest rates.
If you've been thinking about buying, selling, or investing and want to discuss your specific situation, don't hesitate to reach out. I'm always happy to help.