Rates Just Crossed 7%. Why a Price Cut May Not Be Your Best Move This Fall

Freddie Mac's weekly survey put the average 30-year fixed rate at 7.03% on September 24, 2026, up from 6.95% the week before and 6.30% a year ago. It is the first reading above 7% since January 2025. For Central Ohio sellers heading into fall, that number matters as much as any headline about home prices, because today's buyers shop by monthly payment first.

The August numbers from Columbus REALTORS® show how that is playing out. The regional median sale price held up, rising 2.2% to $345,500. But sellers received an average of 96.9% of their original list price, compared with 99.2% of their final list price. That gap tells you a meaningful share of homes needed a price reduction before they sold.

What the August Data Says About Fall Competition

• New listings fell 4.4% to 3,292, so fewer fresh homes are coming to market.
• Inventory still rose 6.8% to 6,124, which means more of your competition is homes that have been sitting.
• Median days on market was 30, one day longer than last August.
• Months of supply ticked up from 2.3 to 2.4.

Buyers this fall are touring a lot of homes that have already been reduced once. A fresh listing that is priced well and built around what a payment-conscious buyer actually needs has a real opportunity to stand out.

Price Cut vs. Rate Buydown: The Payment Math

Take a $400,000 home and a buyer putting 20% down. At 7.03%, their $320,000 loan carries a principal and interest payment of about $2,135 a month. Now compare two ways to spend the same $10,000 of your money:

• Option A, a $10,000 price cut: The price drops to $390,000, the loan to $312,000, and the payment to about $2,082. The buyer saves roughly $53 a month.
•  Option B, a $10,000 credit toward a permanent rate buydown: The price stays at $400,000. If that credit buys the rate down about 0.75%, to roughly 6.28%, the payment falls to about $1,977. The buyer saves roughly $158 a month.

Same $10,000 from you, roughly three times the monthly relief for the buyer. And because the price stays at $400,000, the sale supports your neighborhood's comparable values instead of pulling them down.

The Fine Print Worth Knowing

• Buydown pricing varies by lender and by day. The 0.75% figure above is an illustration, so I get a real quote from a lender before we put a number in your marketing.
• Conventional loans cap seller concessions based on the buyer's down payment. With 20% down, the cap is typically 6% of the price, so a $10,000 credit on a $400,000 home fits comfortably.
• A permanent buydown helps most when the buyer plans to keep the loan for years. For a buyer expecting to refinance soon, a temporary buydown or a closing cost credit may be the better fit.

How I Build This Into a Listing

• Price to recent closed sales from day one, and plan the concession as a strategy rather than a reaction after 30 quiet days.
• Market the payment, not just the price, so buyers searching by monthly budget see what your home really costs them.
• Keep the credit flexible so each buyer's lender can apply it where it saves them the most.

Bottom Line

At 7% rates, buyers feel the payment more than the price. Dollar for dollar, a seller-paid rate buydown can deliver roughly three times the monthly savings of an equal price cut while protecting your sale price. It is not right for every home or every buyer, but it belongs in every fall listing conversation.

Margaret Lipp | REMAX Premier Choice

Serving Upper Arlington, Dublin, Worthington, Clintonville, Hilliard, Powell, Grandview, and all Central Ohio communities

Data source: Columbus REALTORS® Central Ohio Housing Report, August 2026 (released September 14, 2026), based on Columbus & Central Ohio Regional MLS residential data. MLS price figures do not account for sale concessions. Mortgage rate data: Freddie Mac Primary Mortgage Market Survey, week of September 24, 2026. Payment examples show principal and interest only and are illustrative, not a loan quote; taxes, insurance, and HOA dues are additional. Consult a licensed lender for rates and terms. Seller concession limits vary by loan program.