Market Trends: Lower Mortgage Rates Delay Start of the Slow Season

Could this be the last hurrah for home shoppers before the holidays?

The U.S. market at a glance

• Median Home Price: $364,891 (down 0.1% from last year, but 0.26% higher than a month earlier)
• Homes for Sale: 1% fewer active listings compared to a month ago
• Time on market for a typical home: 27 days, unchanged from a month earlier
• Average rate on a 30-year fixed mortgage: 6.38%, up slightly from the previous month (as of Oct. 6, 2025)
• Market Heat Index: Still a neutral market nationally, with more local markets, including Nashville, Pittsburgh and Houston, moving into buyers’ favor

A dip in mortgage rates in early September appeared to draw buyers and sellers back to the market after a lackluster August, providing a bit of a boost to what is traditionally the start of the slow season in real estate. Sellers also may have been responding to a stock market surge in September, even as inflation climbed and job growth slowed. Mortgage rates have since ticked up, while home prices remain flat as we enter the last hurrah for home shopping in 2025 before the holiday season begins.

What to know if you’re planning to shop or list 

Buyers face less competition

September saw fewer homes selling above their list price than a year ago, a sign that bidding wars among buyers are becoming less frequent. A year ago, 30.5% of homes sold above their listing price; this year, the share was 27%. Meanwhile, the share of sellers cutting prices edged up by 0.4% from August to 26%, and more markets have become buyer’s markets.

The map below highlights the share of listings with a price cut in major metros.

There are more new listings than usual for this time of year

After dropping 7.2% in August, new listings fell by just 2% in September. Last year, new listings in September fell nearly 8%. The smaller than expected drop in new listings gives buyers more choices than they had a year ago. New listings usually fall sharply into the winter months, so shopping earlier will give you more choices.

Keep an eye on interest rates

The market usually responds in advance to expected rate cuts by the Federal Reserve Board, which controls a key rate that influences mortgage rates. But rates are hard to predict, and fluctuate depending on what’s happening in the wider economy. One way to track changes in rates and how they affect how much home you can afford is BuyAbility℠, a tool from Zillow Home Loans that gives you a personalized estimate of affordability based on your financial circumstances and current interest rates.

Find homes in your budget with BuyAbility℠

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Regional highlights

Among the nation’s 50 top metros, 26 saw an annual increase in home values. 

The chart below shows how home values have changed in major U.S. metros since a year ago.

The number of buyer’s markets has more than doubled 

A year ago, six of the nation’s 50 largest metros were buyers markets; this September, buyers have the edge in 15 metros. The strongest buyer’s markets in the country are Miami, New Orleans, Austin, Jacksonville, and Indianapolis.

The hottest markets for sellers are in the northeast, while metros in Florida and Texas, once white-hot seller’s markets, are solidly in buyer territory. That’s due, in large part, to a surge of new construction in those areas in 2024. The strongest seller’s markets are Buffalo, Hartford, San Jose, San Francisco, and New York.

Below, you see where buyers and sellers have the advantage, and where they’re on equal footing.

Metro spotlights

Raleigh, N.C.. Compared to this time last year, the number of homes for sale in Raleigh has jumped 36%, the largest increase among the nation’s 50 largest metros. The bump in the number of homes for sale has turned last year’s seller’s market into a neutral one this year. The typical home in Raleigh is worth $437,337, down 2.7% over the past year. Homes go from list to pending in about 29 days.

Seattle. After a long stretch as a seller’s market, a surge of new listings put Seattle into neutral territory over the summer, giving buyers and sellers here equal power. The typical home in Seattle is valued at $744,272, down .43% from August. Homes go from list to pending in around 20 days.

Cleveland. While home appreciation remains flat nationally, homes in Cleveland racked up 4.6% appreciation over the past year, highest among the nation’s 50 largest metros. The price appreciation indicates growing demand for homes, and a more competitive landscape for buyers. The typical home in Cleveland is valued at $244,289, and finds a buyer in 10 days.

What’s next? 

Fall can be a sweet spot for buyers since there’s less competition and more homes for sale than there’s likely to be by year’s end. Sellers who don’t sell by the holidays may be more open to negotiating concessions on price, closing costs and mortgage rate buydowns. Your agent can help you craft an offer that’s appropriate for your local market. If you’re struggling with affordability, check out down payment assistance programs, which can lower the cost of buying.

Sellers, meanwhile, should put the best face possible on their listings to help them stand out to buyers. That includes listing your home on the Multiple Listing Service, where research found that homes sell faster and for more money, and providing immersive experiences online so home shoppers can get the clearest picture of your home. If you’re in a buyer’s or even a neutral market, be prepared for buyers asking for concessions on closing costs and rate buydowns. A local agent can help you price your home to sell, based on your market dynamics.

Apartment Maintenance Tips for Renters

Written byJennifer Lyons|October 15, 2025

Reviewed by Chrissy Tran, Edited by Alycia Lucio

Your apartment isn’t just a place to crash at the end of the day; it’s also your home, your comfort zone, and the backdrop for your life. Whether you’ve been there for years or you’re just unpacking boxes, taking care of your space helps it stay welcoming, safe, and stress-free. Sure, your landlord handles the big repairs, but you’re still responsible for a few little things day-to-day to ensure the apartment is maintained. 

Staying proactive not only keeps your apartment in great shape, it also helps you avoid headaches, protects your security deposit, and creates a space you genuinely love coming back to. In fact, being a hands-on tenant can help you:

• Prevent small issues from turning into expensive repairs
• Keep your apartment safe and functional
• Protect your belongings
• Boost your chances of getting your security deposit back

With the right habits, you’ll save yourself time, stress, and money. Here’s your go-to guide for apartment maintenance tips that will make your rental feel like home while avoiding those dreaded move-out surprises.

Preventative maintenance tips

Preventive maintenance is all about consistency. These habits keep your apartment running smoothly and give you peace of mind. A few daily, weekly, and monthly maintenance tasks that can benefit you and your apartment include:

Clean your filters regularly

If you have heating or air conditioning in your apartment, make sure to clean or replace filters monthly. Dirty filters don’t just increase your energy bill; they strain your system, which can lead to breakdowns at the worst possible time (think: a mid-summer heatwave).

Check for leaks

A slow drip under the sink or a damp patch behind the toilet may seem harmless now, but moisture can lead to mold, water damage, and a larger-than-expected bill if you’re found responsible. Check under sinks, around appliances, and along windowsills monthly.

Keep drains clear

Clogged drains are one of the biggest reasons for emergency maintenance calls. Use strainers to catch hair in the shower and food scraps in the kitchen. If water starts draining slowly, put in a maintenance request before it has a chance to stop draining.

Run appliances properly

While it might be tempting to stuff “just one more” piece of laundry or dish into the washer, overloading your machines can cause motors to burn out more quickly. Follow size guidelines (usually listed in an owner’s manual or on the back) for longer appliance life.

Vacuum out refrigerator coils

This is a small and often overlooked chore that pays off big. Clean coils every few months to help your fridge cool efficiently and last longer. Clogged coils can cause your refrigerator to work harder, leading to higher energy bills and reduced cooling, which may cause your food to spoil.

Test your detectors

Working smoke and carbon monoxide detectors are life-saving devices, but again, they are often neglected. Test monthly, replace batteries when needed, and report any faulty units to your landlord immediately.

Take out the trash and clean regularly

Pests don’t need an engraved invitation to enter your apartment; they just need an open bag of trash or a pile of crumbs. Regular cleaning helps you spot problems early and keeps unwanted visitors away. It also makes it easier to spot issues like wear and tear, faulty wiring, or other problems before they become major issues.

Seasonal maintenance tips

Even something as small as seasonal shifts brings new challenges for renters. Taking care of seasonal maintenance now means fewer emergency calls later. Try doing the following tasks season to season so they don’t stack up:

Winter

• Use weather stripping or draft stoppers to seal gaps around doors and windows, which will help your appliances run more efficiently and lower your energy bills.
• Keep radiators and vents dust-free to help heat circulate.
• In extreme cold, let faucets drip to prevent frozen pipes.

Spring

• Deep clean your apartment, including behind furniture and appliances where dust and allergens tend to accumulate.
• Watch for early signs of ants or other pests returning as the weather warms.

Summer

• Replace AC filters before peak heat so your system doesn’t overwork.
• Test smoke alarms before cooking.
• Ensure a fire extinguisher is nearby and up-to-date when cooking outdoors or grilling on balconies (if permitted).

Fall

• Clear leaves from balconies, patios, and drainage areas to prevent water damage.
• Check window screens and seals to keep pests and drafts at bay.

Why you should report maintenance issues quickly

One of the most important apartment maintenance tips isn’t about rolling up your sleeves, but about knowing when to get your landlord involved. Your lease and local laws outline what landlords are responsible for fixing, but as the person living in the space every day, you’re the first line of defense in spotting issues. Acting early can make all the difference.

Here’s why reporting maintenance issues right away matters:

Prevent escalation

That “tiny” ceiling stain could be a warning sign of a much larger roof leak. What starts as a small patch could spread quickly, damaging drywall, flooring, and even your belongings. Reporting issues early means the problem can be fixed before it snowballs and before you become responsible for damages.

Protect your security deposit

Unreported damage may be considered a sign of tenant negligence if a small issue escalates into a larger issue, causing property damage. If a minor leak becomes a warped floor or a squeaky hinge turns into a broken door, you could be charged for repairs when you move out. Documenting and reporting issues early protects your security deposit.

Maintain safety

Electrical sparks, gas smells, broken locks, or mold growth aren’t just inconvenient; they’re serious health and safety hazards. Reporting them immediately isn’t just about protecting your apartment; it’s about protecting yourself and your neighbors.

Avoid long-term disruption in your space

Some repairs take days or weeks to schedule. If you wait too long to report a slow-draining sink or a broken appliance, you could be living without it for far longer. Early reporting keeps your daily routine running smoothly.

Strengthen your tenant record

Landlords appreciate tenants who take care of their unit and communicate promptly. Reporting issues in a timely and documented way shows that you’re responsible, which is something that can help when renewing your lease or requesting flexibility later.

Pro tip: When reporting a maintenance issue, be as specific as possible. Include photos, dates, and a clear description to avoid confusion. Keep a record of all communication. Email is the most effective method because it creates a timestamped paper trail that’s easy to reference later.

How to deal with apartment maintenance

These bonus tips can make everyday life easier and help you avoid unexpected maintenance emergencies. 

Build a small toolkit

A screwdriver, pliers, flashlight, tape measure, and a few screws or nails can help you handle small fixes without needing to wait for help. Here’s a handy guide to tools every renter should have.

Keep surfaces clean

Clutter can hide maintenance issues. A quick weekly cleanup can help you spot leaks, cracks, or pests before they worsen.

Know (and understand) your lease agreement

Some leases have strict maintenance rules, such as notifying your landlord about specific repairs within a certain timeframe. Brush up on lease and rental basics to avoid accidentally breaking a clause.

Get renters insurance as an extra safety net

Even with perfect maintenance, accidents can still occur. A burst pipe from the upstairs unit or a break-in can cost you thousands without protection. Renters insurance offers affordable peace of mind and typically covers:

• Personal belongings damaged by fire, water leaks, or theft
• Liability if someone gets hurt in your apartment
• Temporary living expenses if your unit becomes uninhabitable

It’s a small monthly investment that can save you from a huge financial hit later.

Key takeaways for apartment maintenance

Apartment maintenance is your ticket to a safer, more comfortable home and fewer surprises when it’s time to move out. By staying proactive with small tasks, handling seasonal maintenance, and communicating promptly with your landlord, you’re setting yourself up for a smooth, stress-free renting experience.