We're seeing a shift in the market: in the four weeks ending August 23, new US listings edged up 0.4% and total homes for sale increased by 0.5%, marking the highest inventory since early Q2. Meanwhile, pending home sales dipped 1.1% to a six-month low, as elevated housing costs continue to keep many buyers on the sidelines—even with more options available nationwide. The median US home-sale price rose 1.9% from last year, now sitting above $400K, and the average mortgage rate remains close to 7%, its highest point in 13 months. For buyers, this environment has opened the door to more favorable negotiations, especially on homes that have been on the market for several weeks. Sellers, on the other hand, are finding that realistic pricing—rather than aiming for last year’s highs—tends to bring the best results. With more than three decades navigating these cycles, I know that clear communication and a well-informed approach are key to making the most of these evolving conditions, whether you’re buying or selling.
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