If you put your buying plans on hold because of high rates or steep prices, it may be time to run the numbers again. Affordability is improving in 39 of the top 50 markets, according to First American — and this marks the fifth straight month that buying has gotten a bit easier.

To make that real: the latest data from Redfin shows monthly mortgage payments on a median-priced home are about $283 lower than they were just a few months ago. That’s nearly $3,400 in annual savings — not small change when you’re building a homebuying budget.

A few hundred dollars a month can be the difference between feeling stretched and feeling comfortable. It can also change the price band you can realistically shop in. For example, Redfin notes:

“A borrower with a $3,000 monthly budget can now afford a $468,000 home, about $22,000 more than in June.”

That extra buying power could help you find a house you actually want rather than settling for something that’s merely “good enough.” And, importantly, those savings can be redirected into other priorities — a larger emergency fund, needed renovations, or lower long-term financial stress.

Two things are working in your favor right now:

• Mortgage rates have eased from their highs earlier this year.

• Home price growth is slowing in many markets.

Together those forces put real cash back in buyers’ pockets. As Andy Walden, Head of Mortgage and Housing Market Research at ICE Mortgage Technology, explains:

“The recent pullback in rates has created a tailwind for both homebuyers and existing borrowers. We’re seeing affordability at a 2.5-year high . . .”

What to do next

If you’ve been waiting, the practical next step is simple: check how these changes affect your numbers. Talk to a trusted lender to get a current payment estimate at today’s rates, and connect with a local agent who can translate that buying power into real listings in neighborhoods you like.

Also consider running a quick affordability scenario — a conservative payment estimate plus a buffer for maintenance and taxes — so you can shop with confidence instead of reacting under pressure.

Even modest monthly savings can open up new options — a better neighborhood, a larger home, or just more breathing room in your budget. For many buyers, that turns “not yet” into “let’s go.”

---

Bottom line

Affordability is improving in many markets, and that resets the math on your move. If you’ve been sitting on the sidelines, now’s a smart time to take a second look. Let’s run the local numbers together so you can see exactly how much more buying power you may have than you did just a few months ago.