Mortgage rates have come down, and there are more homes on the market than we’ve seen in years —
so why aren’t more people buying?

That’s the question I’ve been hearing from both buyers and sellers lately.
There’s no shortage of headlines out there, but depending on what you read, you’ll see two completely different stories.

Some say prices are still climbing. Others claim the market’s cooling or even falling.

So… what’s the truth?

And more importantly, what does that really mean if you’re thinking about buying or selling a home here in Frisco, Texas?

🎥 Watch the Full October 2025 Market Update

Click below to watch this month’s video, where I unpack national trends, explain what’s happening locally, and share what these shifts mean for buyers and sellers heading into the end of the year.

🗺️ The National Backdrop (Why Everything Feels “Off”)

1) Consumer Sentiment is Nervous

Even with easing rates, confidence hasn’t fully returned.

Nearly 2 in 3 Americans think a recession is coming.
74% say world news/current events affect their financial decisions.
Translation: a lot of folks are still making housing choices based on uncertainty, not just numbers.

2) There Is No Single “U.S. Market”

Local conditions are increasingly fragmented.

Some metros are stabilizing or rising, others are cooling—often for local reasons (affordability, inventory mix, job growth, migration).

3) Prices: Up in Some Metros, Down in Others

Normalization ≠ crash.

About half of large metros are still up year-over-year; the other half are modestly down.

📍 So… What About Frisco?

Real estate is local. Here’s what the latest data says about Frisco right now.

The September 2025 median sales price for single-family homes was $645,820, which is down 4.7% year-over-year.

While sales prices were down slightly, overall activity was up. The 176 single-family home sales in September 2025 was an increse of 17.6% year-over-year.

Although the total number of homes for sale has started to decline as we head into fall, the 846 single-family homes for sale at the end of September 2025 is 23% more available homes than a year ago and is double what was on the market two years ago.

At the end of September 2025, the average days on market was 74, which is 56.2% longer than a year ago and continues to climb, standing at 107 midway through October.

Weakness in the market is showing in the list-to-sales price ratio. Although I am seeing this vary from neighborhood to neighborhood, as of September 2025, single-family homes were selling at an average discount of 6.5% from their original list price.

🧭 What This Means (Plain English)

For Buyers

More choice and more time than we’ve had in years.
Sellers are more negotiable. Ask for credits/mortgage rate buy-downs and compare neighborhoods—micro-markets vary.
If rates dip again, competition likely returns quickly.

For Sellers

Price to the most recent activity, the last 30–60 days, not last spring.
Preparation wins: condition, photos, and accurate pricing = shorter DOM.
Expect more negotiation; plan strategy before you list.

🎯 Andrew’s Take

This isn’t 2021’s frenzy, and it isn’t 2008 either. It’s a normalizing market where strategy beats timing. If you align price, product, and presentation, you’ll do well—on both sides of the table.