If you’ve been sitting on the sidelines, waiting for the market to feel a little more realistic - you’re not alone.

According to a new survey by Bank of America, two things top the list for today’s homebuyers:

• 63% want lower home prices
• 50% want lower mortgage rates

Sound familiar?

The good news is — the housing market is finally starting to deliver on both.

Let’s break down how today’s market is adjusting and what it means for your next move.

Home Prices Are Moderating (Finally)

Over the past few years, prices moved fast — sometimes so fast it pushed buyers out of the game.

But today?

That red-hot pace is cooling. Nationally, price growth has slowed to low single digits, compared to the 20%+ surges we saw from 2020 to 2022.

For buyers, that shift changes everything:

• It’s easier to plan your budget
• You won’t feel rushed to “beat the market”
• It’s more manageable to save for a down payment

And depending on your local market, some areas may even be seeing slight price dips — especially where inventory is rising.

Just remember: real estate is local. One zip code could still be climbing while another sees price cuts. That’s why a trusted local expert matters more than ever.

Mortgage Rates Are Easing (and That Helps You Buy More)

The second big change? Mortgage rates are trending lower.

We’re no longer sitting at the high 7% range like we were earlier this year. Instead, average 30-year rates have dropped closer to the low-to-mid 6% range - a much more manageable level for most buyers.

As Lisa Sturtevant, Chief Economist at Bright MLS, explains:

“Slower price growth coupled with a slight drop in mortgage rates will improve affordability and create a window for some buyers to get into the market.”

Even a small rate drop can save you hundreds per month on your future payment.

And while rates will likely remain a bit bumpy, many experts agree we could see them hover (or even dip) below 6.5% as we head into 2026.

Why This Matters for You

No - this doesn’t mean buying is suddenly “easy.” But it does mean the pieces are starting to line up in your favor.

• Prices are no longer skyrocketing
• Rates are lower than earlier this year
• Wages are up (meaning your buying power may be too)

If you’ve been feeling like buying was out of reach, now might be the time to take a fresh look.

Bottom Line

Buyers like you have made it clear: you want affordability.

And right now, the market is adjusting in that direction. With prices slowing and rates easing, fall is offering something we haven’t seen in a while — real opportunities.

If you're thinking about buying in Los Angeles, Glendale, Burbank, or nearby areas, now is a great time to run the numbers together.

Call 818-860-7386 and let’s see what’s possible for you.