U.S. Home Prices Ease Across Major Metros | Check out the Move Meter at www.gloriaNow.com and learn more about your next home location.

Over the years, I’ve watched the Naperville market—and the nation—move through many cycles, but the recent cooling is striking. In Mid-Q3, we saw price per square foot drop year-over-year in 36 of the 50 largest U.S. metro areas, and on a national scale, that measure was down about 2%. This marks the tenth month in a row we’ve observed this kind of softening. Sellers are now adjusting their expectations, with more noticeable price cuts to help bridge the gap with buyers. Higher mortgage rates are certainly playing a role, especially in areas that experienced rapid appreciation during the pandemic. Inventory is also higher than before, which gives buyers a bit more leverage than we’ve seen in recent years. For those navigating a move—whether you’re upsizing, downsizing, or facing a unique situation—it’s essential to approach these shifts with both patience and a strategy tailored to your goals. Real estate is always about meeting you where you are, even as the broader market landscape shifts.