The real estate landscape is always shifting, and right now we're seeing more homes coming on the market just as buyer demand cools. Over the four weeks ending August 23, new listings in the US edged up 0.4% week-over-week, and total homes for sale rose 0.5%—the highest we've seen since early Q2. Yet, pending home sales dipped 1.1% to a six-month low as high housing costs kept many buyers out of the game, even with more choices available nationwide. The median sale price is up 1.9% from last year, now topping $400,000, and average mortgage rates remain close to a 13-month high at around 7%. With inventory increasing and demand softening, buyers are finding more room to negotiate—especially on homes that have been listed for several weeks. Sellers, on the other hand, are seeing the best results when they price their homes realistically rather than reaching for last year’s highs. As both a listing and buyer’s agent, I draw on decades of local knowledge and negotiation experience to help my clients navigate market conditions like these—always with your interests front and center.
Leave a Reply