We're seeing a notable shift in the real estate landscape: in the four weeks ending August 23, new US listings edged up by 0.4% and total homes for sale increased by 0.5%, reaching their highest point since early in the second quarter. Yet, pending home sales across the country dropped by 1.1% to a six-month low, as higher housing costs have kept more buyers on the sidelines—even as inventory improves. The median US home-sale price rose 1.9% year over year to over $400,000, with the average mortgage rate holding steady near 7%, which is close to a 13-month high.
This combination of increased inventory and a cooling demand is creating more buyer-friendly conditions. For active shoppers, this means more opportunities to negotiate on price or request concessions, especially in markets where homes have been listed for several weeks. Sellers are finding that realistic pricing is far more effective than trying to reach for prices of years past.
With over two decades guiding clients through every market cycle, I've learned that success in real estate always comes back to trust, strategy, and understanding your unique needs. Whether buying or selling, a thoughtful approach helps you make the most of changing conditions.
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