Seeing more homes hitting the market lately? You’re not imagining it—over the four weeks ending August 23, new listings in the US nudged up 0.4% and total homes for sale increased by 0.5%. That’s the most inventory we’ve seen since early Q2! Even with this boost, high housing costs have kept some buyers on the sidelines—pending home sales dipped 1.1% to a six-month low. The median US sale price is now up 1.9% year-over-year, sitting above $400K, while average mortgage rates hover around 7%, near their highest point in 13 months.
For those still house hunting, these conditions are opening up opportunities—rising inventory and softer demand mean a little more negotiating power. Homes that have been listed for several weeks are often where buyers find the best deals or concessions. Sellers are seeing the benefits too, especially when price expectations are realistic instead of reaching for past highs.
As someone who’s passionate about matching people with their perfect place, I’m always watching for these market shifts. It’s an adventurous time in real estate, and I’m grateful to help clients navigate it with optimism and a positive outlook!
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