Author: Kyle Lubsen

Confidence in the U.S. economy slipped to a seven-month low in mid-Q3, even though many folks felt a bit better about their current situations. What’s behind the dip? People are feeling less sure about their income, job security, and business prospects over the next few months. The data shows the present-conditions index jumped about 7 points to 121, but that optimism didn’t carry forward—expectations for the future fell by 6 points to 68, a level often tied to recession risk. Early in Q3, employers cut 23,000 jobs, and unemployment edged up to nearly 4%, mainly because more people left the workforce—not because hiring picked up.

What about the real estate side of things? Even with softer confidence, homebuying expectations only eased a little and actually continued ticking upward. About 61% of people still expect interest rates to move higher. With policymakers holding rates steady and the market not expecting any sudden relief, borrowing costs look like they’ll stay elevated through the end of the year.

Having spent over a decade helping families across Shelby and Jefferson Counties, I know how much these shifts can weigh on your mind—especially if you’re considering a move, a bigger place, or a fresh start. My goal is always to break down what’s happening so you feel clear-eyed about your decisions, no matter where you are in your home journey. If you’re feeling unsure about the landscape, you’re not alone—and I’m here to help you make sense of it.

We’re seeing a shift in the housing market right now—one that can really open doors for buyers. Over the four weeks ending August 23, there was a small but real uptick in new US listings (up 0.4% week over week) and a 0.5% rise in total homes for sale, reaching the highest point we've seen since early Q2. Yet, pending home sales dropped 1.1% to a six-month low, mostly because high housing costs are keeping many folks on the sidelines, even as more homes become available nationwide. The median US sale price climbed 1.9% year-over-year, now sitting above $400,000, and average mortgage rates are hovering near 7%—close to a 13-month high. If you’re actively shopping, this environment could work in your favor: more inventory and less competition mean there’s extra room to negotiate, whether you’re hoping for a price cut or other concessions. In my experience working with home buyers and sellers across Shelby and Jefferson Counties, I’ve seen that homes lingering on the market for a few weeks often present real opportunities for leverage, especially when sellers set realistic expectations rather than chasing last year’s prices. If your family is weighing a move, now might be the right time to have a real conversation about what’s possible.

Here's a quick update on Shelby County's real estate market. Homes are selling at a similar pace as before. The number of properties available and sold remains consistent with last year.