The National Association of Realtors announces existing home sales for November on Friday. Sales have been pretty flat this year, as mortgage rates haven’t come down enough to offset the high prices that have locked out many would-be buyers. But as always, there are regional differences.

Austin, Texas, was the poster child of the pandemic-era housing boom. But today, it’s a buyer’s market, said Krystal Shaw with Roots Residential Group. Sales have slowed, prices have fallen, and sellers are making concessions, like doing repairs or buying down interest rates.

“I think that ultimately, for affordability in Austin, it is a good thing that prices have readjusted,” she said.

In Cleveland, Ohio it’s a different story. Longtime agent Doxie Jelks said the traditionally more affordable market continues to attract plenty of demand.

“It's still a seller's market here in Cleveland,” she said. “If it's priced right, looks good, it goes fast with multiple offers.” Jelks does see some houses staying on the market longer, however.

For a more balanced market, look to Jacksonville, Florida, where Watson Realty president Bill Watson said demand and supply are pretty well matched.

“It means the sellers are not getting everything they demand. The buyers may not get everything they want either,” he said. That is ultimately healthier than one side having all the power.

A more balanced market could be coming to a neighborhood near you. Nationally, Realtor.com is predicting that next year we’ll see the most balanced market in about a decade.