Coldwell Banker CEO Sees Housing Market in a Soft Spell

Coldwell Banker Realty CEO Kamini Rangappan Lane said housing activity is in a “soft period” as higher mortgage rates, inflation and economic uncertainty weigh on consumers. She said housing starts and mortgage applications have been declining.

The average 30-year fixed mortgage rate was 7.12% for the week ending Sept. 18. Total mortgage applications fell 1.5%, while purchase applications were down 0.8%.

Lane said rates have risen in recent months but are around levels seen in 2023, when about 4 million housing units traded. She said the market is trending toward a similar figure in 2026, though the fall market remains uncertain and depends on broader economic factors.

Lane also pointed to limited inventory. Some homeowners are still moving because they need to relocate or have found a home to buy, she said. Compass CEO Robert Reffkin recently said 42% of homes on the market had price cuts in September, while national housing supply was up 4%.