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| LIFE IN SOLERA | JULY 2026 | 23 A Shift In Our Local Market By Diana Mangan, Realtor and Resident If you have been following real estate news, you have likely heard that home prices are beginning to soften in many parts of the country. That trend is now reaching closer to home. Most Solera homes currently listed for sale have had at least one price reduction and sales prices are down when compared to a few months ago. After several years of rapid price growth, we are seeing a gradual adjustment in home values. This does not mean the market is "crashing;" rather, it is returning to a more balanced and sustainable pace. So, why are prices easing? One of the biggest factors is interest rates. Mortgage rates remain higher than they were just a few years ago, which directly affects what buyers can afford. When purchasing power decreases, demand naturally cools, and that puts some downward pressure on prices. Another reason is an increase in available homes. Over the past year, more homeowners have decided to list their properties, giving buyers more choices. With less competition and fewer multiple- offer situations, homes are no longer being pushed up to the same premium levels we saw during the peak market. Additionally, buyers are simply becoming more cautious. Economic uncertainty, inf lation concerns, the war in Iran, and the rising cost of living have caused many buyers to take a more measured approach before making a purchase. What does this mean to you? For sellers, it means pricing your home correctly is more important than ever. The days of "testing the market" with an inf lated price are fading. Well-priced, updated homes are still selling—but they may take a bit longer and require strong presentation. For buyers, this shift creates opportunity. With less competition, you may have more room to negotiate and take your time finding the right home. The bottom line: Our local market is not declining, it's normalizing. Real estate has always moved in cycles, and what we are experiencing now is a healthy adjustment after an unusually strong run. As always, real estate is local. Even within our area, different neighborhoods and price ranges can behave differently. If you are curious about the value of your home or considering a move, it's a great time to have a conversation with a local realtor and explore your options.