According to Compass, in September, the Federal Reserve cut its benchmark rate for the first time since 2020, boosting housing market optimism. With inflation low and consumer confidence rising, mortgage rates briefly hit their lowest since February 2023.

As listings outpace sales, the market favors buyers, but sought-after homes still sell quickly and above asking. October is a prime selling month before the holiday slowdown, with many sellers adjusting prices to attract buyers.