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Mid-October is the Best Time for Philadelphia Homebuyers to Score a Deal According to Redfin
October is the best time for homebuyers to score a deal in 16 major U.S. metro areas, including many places in the Midwest and on the East Coast.
Early October is prime dealmaking season for buyers in Boston, Chicago, Minneapolis, New Brunswick, NJ and Orlando, FL. In several other places, including Philadelphia, Phoenix, and much of Ohio, the best deals arrive in mid- to late- October. Read more from Redfin.
More Millennials Buying Homes in Philly
Philadelphia is experiencing a surge in millennial homebuyers. The city ranked no. 17 on RentCafe's list of top 20 metro areas where more millennials are buying.
From 2018 to 2023, millennial homeownership in Philly increased by 91.7%, significantly outpacing the national five-year average of 74%. The metro also stood out as one of a few on the list not located in the Sun Belt region, a standout among many metros in Florida, California and Texas. Read more from the PA Association of Realtors.
PA Housing Market Holds Steady in August
Pennsylvania's housing market held steady in August, as home sales, listings and median home price remained consistent with the previous month, according to the latest housing report prepared for the Pennsylvania Association of Realtors.
The median home price was $330,000 in August, unchanged from July. The median price was up 4.7% year over year. The number of sales remained essentially the same from July to August, reaching 11,451 last month. Sales were down nearly 6% compared to August 2025, when 12,168 sales were recorded. Read more from the National Association of Realtors.
Household Real Estate Value and Equity Climbed to Record High in 2026Q2
In the second quarter of 2026, the Federal Reserve's Flow of Funds data revealed that the total value of owner-occupied real estate climbed to a new record high of $49.8 trillion. Mortgage debt also continued its upward trajectory, reaching an all-time high of $14.0 trillion. As a result, home equity rose to $35.8 trillion. Read more from Realtor.com.
Young Adults in PA Forced to Live at Home Longer
More young adults in Pennsylvania are being forced to live at home with their parents longer, according to Realtor.com. As of 2025, 33% of young adults aged 18-34 lived with their parents nationwide, equivalent to 25.2 million adults under 35, nearly a record high.
In Pennsylvania, Realtor.com reports that 34.7% of young adults currently live with their parents, placing the state just shy of the top 10 states with the most young adults living at home. The commonwealth came in just behind New York (35.9%) and Massachusetts (35.7%). Read more from the PA Association of Realtors.
U.S. New Home Sales Jump to Eight Month High in August
Sales of new US single-family homes surged to an eight-month high in August as buyers took advantage of price cuts and other incentives, but rising mortgage rates stemming from the war in the Middle East remain a drag on the housing market.
New home sales increased 6.4% to a seasonally adjusted annualized rate of 684,000 units last month, the highest level since December 2025, the Commerce Department’s Census Bureau said on Thursday. Data for July was revised higher to show sales dropping to a rate of 643,000 units instead of the previously reported 607,000 units. Read more from WTVB and Reuters.