In recent weeks, we’ve seen a noticeable shift in the real estate landscape. For the four weeks ending August 23, new listings in the US increased by 0.4% week-over-week, with total homes for sale up 0.5%—the highest we’ve seen since early Q2. However, pending home sales dipped by 1.1% to a six-month low, as many buyers are pausing their search in response to elevated housing costs, even with more options becoming available nationwide. The median US home-sale price rose 1.9% year-over-year to just above $400,000, while the average mortgage rate hovered near 7%, close to a 13-month high.
For those navigating this changing market, I always emphasize that increased inventory and softer demand can provide meaningful opportunities. Buyers are finding more room to negotiate price reductions or request concessions, especially on homes that have been listed for several weeks. On the other hand, sellers are achieving the best results when they price realistically—rather than chasing the highs of previous years. With over 17 years of experience guiding clients through shifting markets, I know that understanding timing and strategy is key to a successful transaction. As always, my focus is on providing clear information and thoughtful guidance, tailored to your unique real estate goals.
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