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Let’s face it — most buyers don’t walk into a showing thinking about the total home price. They’re thinking, “What can I afford each month?”

In September, the average monthly payment (with 20% down) landed at $1,812 — slightly down from August but still nearly double what it was pre-pandemic. That small dip in borrowing costs made a big difference, allowing some buyers to stretch for the extra bedroom or upgrade to a better neighborhood.

As Zillow Senior Economist Kara Ng puts it: “When borrowing costs dip, the same monthly payment might unlock another bedroom.” That’s huge for families who want a home they can grow into — not just settle for.

👉 Takeaway for agents: It’s time to frame your conversations around monthly affordability, not just purchase price. Show clients how down payment tweaks, rate buydowns, or seller credits can transform what they can actually afford. Tools like Zillow Home Loans’ BuyAbility℠ can give clients instant clarity on how each variable affects their monthly payment.

Price Cuts Are Rising — But They’re Not Always the Answer

In September, 26.2% of listings had a price cut, up slightly from the month before. But here’s the thing — smart sellers don’t always need to slash prices to attract buyers.

Buyers fixate on that comfortable monthly payment. So instead of dropping the price, savvy agents are turning to strategic incentives — think rate buydowns, seller-paid closing costs, or repair credits. These tactics can make a home feel more affordable without hurting the seller’s bottom line.

Ng nails it again: “Strategic incentives can reframe value, helping homes stand out without resetting list prices.”

👉 Agent strategy tip: Don’t make a price cut your first move — make it your third. Nail presentation, then craft a financing strategy. Create an “incentives menu” that shows buyers how different financing options impact their monthly payment. It’s visual, educational, and helps them see real value.

The Market Is Steady — and Smart Agents Are Thriving

The national market is balancing out, not freezing up. Homes are going pending in about 27 days, and buyers are still out there — they’re just more payment-conscious than ever.

That means real estate pros who understand how to communicate affordability, not just price, are winning listings and closing deals faster.

Bottom Line

October’s market is proving one thing loud and clear: the monthly payment rules everything. If you can show clients how to lower it — whether through strategy, timing, or incentives — you’ll help them win in any market.

📞 Ready to master the conversation and close more deals? Call or text 855-935-MORE today!