It's a changing real estate market going into fall that agents expect will impact both buyers and sellers.

This comes as the average rate on a 30-year fixed mortgage went up to 6.29 percent this week.

One Living Realty realtor said from price reductions to houses sitting on the market for weeks, she's seeing the effects of rising rates.

"I had an offer come in from some folks, the sellers were lukewarm on the offer, and in the days that it simmered and kind of went back and forth the buyers faced another increase and their ability to come up was diminished," Bonnie Roseman said.

For those sellers, Roseman suggested buying down the interest rate for the buyers, a tactic she said is becoming more common.

For those purchasing homes, the real estate agent said people who already locked in a rate are less likely to waffle while the sale is pending.

Roseman heard that perspective from one buyer this week.

"The daughter said, “the thing is if we terminate this and we go buy something else we’re probably looking at closer to seven percent interest rate instead of six so even if it needs less work the budget is hugely impacted," she said.

Realtor Ilyse Ball said while the rate is still at a three-year high, it's important to look at the housing market over the last few decades.

"Historically, I think we need to put it in perspective, because a lot of people who have been in the business for a really long time bought their houses at 11, 15, and 22 percent. So, six percent is higher than what we’ve seen in the last three years but historically it’s still relatively low," Ball said.

Ball said there will be upsides for both buyers and sellers coming out of this.

"You may have more than an hour to think about putting an offer on the house, which is good. You may have a couple of days or a week and I think that’s really settling for a lot of buyers and I think it’s actually good for sellers too. I think that when people were making really quick decisions people were also changing their minds," she said.

Val Cavazos is currently in the process of buying a home. Cavazos said she's hoping to make that purchase without major compromises, despite the current interest rate.

"We’re definitely trying to speed up the process because of it. We’re just afraid it’s going to happen again but it’s also a price to keep in mind. Maybe we’re kind of lowering our price threshold because the interest rate is going to figure into it," she said.

Ball said although some houses are sitting on the market for a few weeks, others are selling in a matter of days, so buyers should still be prepared to move quickly if they find a home they love.