We’re seeing a subtle yet important shift in the housing market: over the four weeks ending August 23, new US listings edged up by 0.4%, and overall homes for sale increased by 0.5%—marking the highest inventory since early Q2. At the same time, pending home sales dipped by 1.1% to a six-month low, as elevated housing costs kept many buyers on the sidelines, even with more options available. The median sale price rose 1.9% year-over-year to just above $400K, while average mortgage rates hovered near 7%, the highest in 13 months. With inventory rising and demand softening, buyers now have more opportunity to negotiate price cuts or concessions, especially in markets where homes have been listed for several weeks. Sellers who are realistic with their pricing are seeing better results than those aiming for last year’s peaks. My approach is always to innovate for each property and adapt quickly as market dynamics evolve—ensuring my clients are positioned for success whether buying or selling.
Leave a Reply