The Same House Just Got More Expensive: What Rising Rates Mean for CNY Buyers and Sellers
Market Watch Monday | September 28, 2026
Happy Market Watch Monday!
We've seen interest rates increase over the past few weeks—and here in Central New York, we're already starting to feel the impact.
A wave of buyers has taken a step back. Some homes that were getting a lot of activity just a few weeks ago are now getting fewer showings—sometimes only a handful.
So what does that actually mean?
🎥 WATCH: MARKET WATCH MONDAY In this week's Market Watch Monday, I explain why rising interest rates make the same house cost more per month—and why that's changing how CNY buyers and sellers should think about pricing, showings and patience.
Why Rising Rates Change What Buyers Can Afford
Here's the simplest way to think about it:
The exact same house costs a buyer more per month today than it did just a few weeks ago.
Most buyers don't shop based solely on the purchase price. They shop based on what a home is going to cost them every single month.
When interest rates go up, that monthly payment goes up—and a buyer's purchasing power can go down. Freddie Mac notes that even relatively small differences in interest rates can meaningfully affect monthly payments and overall affordability.
So a buyer who was comfortable going up to $350,000 a few weeks ago might not feel comfortable going that high today—not because they changed their mind about the house, but because the monthly number changed underneath them.
Buyers Are Less Eager to Jump Into Bidding Wars
There's a second shift happening alongside the math.
Buyers are becoming less eager to jump into bidding wars.
They're thinking harder about their maximum number. They're being more selective. And some are simply deciding to wait and see what happens next.
That's a real change from the market we've gotten used to over the past few years—and it's worth understanding whether you're buying or selling right now.
What This Means for Central New York Sellers
Let's be clear about what this does not mean: it does not mean your house isn't going to sell.
But I wouldn't automatically expect 15 showings and multiple offers in the first weekend anymore.
And if you don't have a showing the moment you hit the market—don't panic.
We may be entering a market where homes take a little longer to find their buyer. That makes four things more important than ever:
Pricing — right-pricing from day one matters more when buyers are watching their monthly budget
Preparation — a well-prepared home removes reasons for a cautious buyer to hesitate
Presentation — strong photos and showings still bring the right buyer through the door
Patience — the right buyer may simply take a little longer to find you
What This Means for Central New York Buyers
If you're buying, this shift can actually work in your favor.
With fewer buyers rushing in, you may have a little more room to think, to schedule a second look, and to write an offer without the pressure of an instant bidding war.
Just keep your eyes on the monthly number, not only the sticker price:
Talk with your lender about what today's rates mean for your monthly payment
Get fully preapproved so you know the maximum you're comfortable with
Remember that rates can change again—in either direction—so focus on what works for your budget today
Patience Is Going to Win in This Market
Here's the bottom line.
Your buyer may still be out there. They just might take a little longer to find you.
And that cuts both ways—buyers, the right home is still worth waiting for—and being ready for.
Patience is going to win in this market.
Have a great week, and I'll see you next Monday!
That's your Market Watch Monday!
Sources: Freddie Mac, "Mortgage rates and affordability" (myhome.freddiemac.com). General market observations reflect Stephanie Scriven's firsthand experience in active Central New York transactions.
About Stephanie Scriven
Stephanie Scriven is a NYS Licensed Real Estate Broker and Broker/Owner of Home With Us Realty Group, serving buyers and sellers throughout Syracuse and Central New York.
With a background in market research, Stephanie combines local housing data with firsthand observations from active real estate transactions to help CNY buyers and sellers understand what's actually happening in the market.
Through her weekly Market Watch Monday updates and Real Talk with Stephanie series, she shares practical information about Central New York real estate, pricing, buyer behavior and the home-buying and selling process.
Thinking about buying or selling a home in Central New York?
Stephanie Scriven
NYS Licensed Real Estate Broker
Home With Us Realty Group
315-569-8931
StephanieScriven.com
