US Housing Market Turns Buyer-Friendly After Years of Scarcity
For the first time in over a decade, homebuyers have the upper hand as inventory surges and prices cool. Mortgage rates remain elevated at 6.76%, but seller concessions and negotiating power are now available across major markets.
A Dramatic Shift in Real Estate Dynamics
As of mid-September 2026, leverage in the US housing market is moving toward buyers and investors, with active inventory expanding to 1.62 million homes and supply reaching 4.9 months. For the first time in over 14 years, Seattle's inventory has crossed above four months of supply, putting the market in buyer's territory where buyers have more homes to choose from and more room to negotiate.
The median monthly housing payment reached a 14-month high of $2,641 during the four weeks ending September 6, 2026. The national median listing price fell 1.0% month-over-month to $424,500, representing the tenth consecutive month of annual list-price declines, with 20.4% of all active listings having price reductions in August—the highest proportion recorded in 2026.
What This Means for Foreigners Relocating
If you are planning to buy a home after arriving in the US, timing has shifted decisively in your favor—but bring proof of income and credit history from your home country. With mortgage rates maintaining an average of 6.76%, capital discipline remains paramount, and success requires looking past initial list prices and identifying sellers with time-sensitive motivations. Foreign nationals typically face stricter lending requirements and higher rates than US citizens; having savings for a larger down payment strengthens your negotiating position. Renters should also benefit from more generous landlord concessions and lower competition for desirable properties.
Sources
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