| Good morning from Asheville, |
| Here is a number worth sitting with: the four-county Asheville metro posted a median sales price of $470,800 in August, up 3.5 percent year-over-year, even as national sales hit their slowest pace in years. That gap between our local story and the national headline is exactly the kind of thing that gets lost when people read the news and assume it all applies here. This week we break down what the numbers actually mean for owners, buyers, and anyone turning over the idea of a move. |
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By the numbers
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$470,800
Asheville metro median sales price, August 2026
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7.50%
Average 30-year fixed mortgage rate, Oct 2026
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4.8 months
National existing-home inventory supply, September 2026
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IN THIS ISSUE
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Asheville prices held up in August. The rest of the country, not so much. |
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The 30-year fixed rate hit 7.50 percent. Here is what that does to a monthly payment. |
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More homes are sitting longer, but the market has not stopped moving. |
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Paying rent on time for years and still getting denied? That may be about to change. |
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Around Asheville: Asheville VeganFest is coming to Pack Square on October 25, and 2 more coming up |
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The lead · LOCAL MARKET
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Asheville prices held up in August. The rest of the country, not so much.
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| While national existing-home sales sat near their slowest pace since mid-2025, the four-county Asheville metro posted a median sales price of $470,800 in August, a 3.5 percent gain year-over-year, according to Canopy MLS data. |
| Active inventory here was 3,291 homes with 5.8 months of supply, down from 6.6 months a year ago. Homes took 64 days to sell on average, unchanged year-over-year. Those two facts together, tighter supply and stable time on market, help explain why prices held. The year-to-date median through August came in at $450,000, just 0.4 percent below the same stretch in 2025, so the annual picture is close to flat rather than declining. |
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Why it matters: If you have been watching national headlines and assuming Asheville values are sliding with the rest of the country, the local data does not support that read.
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Read at Canopy Realtors (Canopy MLS) →
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RATE WATCH
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The 30-year fixed rate hit 7.50 percent. Here is what that does to a monthly payment.
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| The average 30-year fixed mortgage rate rose to 7.50 percent the week of October 9, its highest point since November 2023, according to the Mortgage Bankers Association. |
| To make that concrete: on a $400,000 loan, the difference between 6.50 percent and 7.50 percent is roughly $270 more per month, every month. The MBA reported purchase applications fell 4 percent that same week and are running 16 percent below year-ago levels, which tells you buyers are feeling that math. ARMs now make up 10.5 percent of all applications, the highest share since October 2025, as some buyers look for ways to trim the payment. One piece of context worth noting: a meaningful portion of rate movement happened after October 9, so the next round of application data will show whether lower rates from mid-October brought buyers back. |
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Why it matters: Anyone carrying a rate quote from earlier this fall should check whether it is still valid, because the numbers have been moving fast in both directions.
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Read at Mortgage News Daily →
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FOR SELLERS
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More homes are sitting longer, but the market has not stopped moving.
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| Nationally, existing-home inventory reached 1.60 million units in September with a 4.8-month supply, the highest since November 2015, and the median time on market stretched to 33 days, up from 31 in August, per the National Association of Realtors. |
| Sales did tick up 1.5 percent in September to a seasonally adjusted annual rate of 3.99 million homes, a modest improvement after three straight months of declines. The national median price came in at $417,500, up 1.3 percent from September 2025. Homes are still selling because life does not pause for rate cycles: job changes, retirements, growing families, and downsizes keep buyers in the market every month. |
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Why it matters: With buyers having more choices and taking more time, the homes that sell are the ones priced right and presented well from day one, not the ones that start high and chase the market down.
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Read at Eye on Housing (NAHB) →
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BUYER CREDIT
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Paying rent on time for years and still getting denied? That may be about to change.
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| About a third of mortgage applicants, 32.88 percent, are denied not because of missed payments or too much debt but because they do not have enough credit history, according to data cited by one listing site's analysis. |
| New credit models are starting to count on-time rent and some utility payments, which could help renters who have been building a payment track record without getting credit for it. The catch: this reporting is not automatic. Renters typically have to opt in through their landlord or a third-party service for any of it to show up. If you know someone who has been told their credit file is too thin to qualify, this is worth a conversation before they give up on buying. |
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Why it matters: For a renter who has paid on time for years, getting rent payments into a credit file could be the step that finally gets a mortgage application across the line.
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Read at Keeping Current Matters →
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Quick hits
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Around Asheville
Asheville VeganFest is coming to Pack Square on October 25
If you want something to do next Saturday, Asheville VeganFest Fall 2026 sets up at Pack Square Park from noon to 5 pm. Free admission, plant-based food, artisan vendors, a live DJ, and a kids' zone. It runs rain or shine, which around here is always a reasonable hedge.
Also coming up
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Tip of the week
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Pull your free credit report before you need it
If you are thinking about buying in the next 12 months, pull your credit report now at annualcreditreport.com and look for accounts that might be dragging down your score or, on the flip side, rent and utility payments that are not showing up at all. Fixing errors or setting up rent reporting takes time, and lenders want to see a pattern, not a last-minute fix.
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How was this issue?
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Until next week,
Priya, broker-in-charge
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| P.S. If you are curious what the August numbers mean for your specific street or neighborhood, just reply here and we will take a look with you. |