3 Reasons Home Affordability Is Finally Improving This Fall

If you’ve been watching the housing market the past couple of years, you know it’s been a wild ride. Between rising interest rates and record-high prices, a lot of buyers pressed pause on their plans.

But here’s the good news — this fall, the market is finally shifting in your favor. Home affordability is improving across the board, and it’s creating fresh opportunities for buyers who are ready to jump back in before the next rate cycle.

Let’s break down what’s changing and why this fall might be the best window we’ve had in a while to buy a home in Clark County or anywhere in Southwest Washington.

1️⃣ Mortgage Rates Are Easing

Not long ago, the average conventional 30-year fixed mortgage rate was hovering near 7%. Today, we’re seeing rates closer to 6.3% — and that drop makes a real difference. FHA is even lower in the high 5's! 

On a $400,000 home, that’s roughly $190 less per month, simply because of the lower rate. Those savings can go toward building your emergency fund, paying down debt, or just giving your budget some breathing room.

💡 Pro tip: Rate trends can shift fast. Locking in while rates are still soft could save you thousands over the life of your loan. Click here to check todays rates

2️⃣ Home Prices Have Finally Cooled

After years of double-digit price jumps, home prices are now stabilizing. National growth is in the low single digits — and some areas around Vancouver, Ridgefield, Battle Ground, Camas and Longview/Kelso are even seeing small price adjustments.

That cooling gives buyers more negotiation power and less competition compared to what we saw in the pandemic frenzy. We are seeing more opportunities for sellers to offer contributions for the popular 3-2-1 temporary buydown or the 2-1 buydown allowing consumers rates in the 3% range year one!!!!!  

🏡 Translation: You can actually negotiate incentives, take a breath, look at homes, and make thoughtful decisions — not rushed ones.

3️⃣ Wages Are Catching Up

Here’s something we haven’t been able to say for a while — wages are rising faster than home prices. With annual wage growth around 4%, paychecks are stretching further, making it easier to qualify and stay comfortable with monthly payments and an additional incentive for those with tips and overtime income not being taxed- more money coming home. 

This helps bring affordability back in line, especially when paired with today’s rate relief.

What It Means for You

Put it all together — lower mortgage rates, slower price growth, and stronger wages — and the math is simple:

👉 The average buyer is saving around $290 per month compared to earlier this year.

If you hit pause on your home search, this might be your moment to take another look before the market shifts again.

Bottom Line

Affordability is moving in the right direction, and opportunities are opening up for homebuyers who act strategically this fall. Whether you’re a first-time buyer, move-up homeowner, or investor — it’s worth running the numbers again.

Let’s look at your options together and see what makes sense for your budget and long-term goals.

📞 Call or text me, Bill Black, your local mortgage broker in Vancouver, WA.

Or use the contact form on the main page — I’ll help you find the right loan program and show you how much buying power you’ve gained this fall.

🔑#VancouverMortgageBroker #TeamBlack #HomeAffordability #FallHousingMarket #BuyAHome #MortgageUpdate #PNWHomes #VancouverWARealEstate