We're seeing some meaningful shifts in the housing market right now. Over the four weeks ending August 23, new U.S. listings increased by 0.4% and total homes for sale rose 0.5%, pushing inventory to its highest point since early Q2. Yet, pending home sales dipped 1.1%—now at a six-month low—as affordability concerns hold many buyers back, even with more choices available nationwide. The median sale price remains above $400K (up 1.9% year-over-year), and mortgage rates are hovering around 7%, near a 13-month high.
For those actively searching, this combination of rising inventory and softer demand is creating more buyer-friendly conditions. There's more room to negotiate, whether that means securing a price cut or other concessions. I’ve found that properties on the market for several weeks often offer the most leverage for buyers, while realistic pricing is key for sellers aiming for a successful outcome. Navigating these changes takes local expertise and strategic guidance—something I always prioritize for my clients in today’s evolving market.
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