There’s a definite shift happening in the housing market. Over the four weeks ending August 23, we saw new US listings tick up by 0.4% and total homes for sale climb 0.5%—the highest since early Q2. Yet, despite improved inventory, pending sales have slipped 1.1% to a six-month low, with many buyers pausing as housing costs remain steep and average mortgage rates hover near 7%, just shy of a 13-month high. The median sale price has edged up 1.9% year-over-year, now topping $400K. For those actively shopping, this environment is presenting more room to negotiate—whether that means price reductions or concessions, especially on homes that have been listed for several weeks. Sellers who embrace realistic pricing (rather than chasing the highs of recent years) are finding smoother transactions. With over two decades in residential sales—including deep experience with REO and traditional homes—I always encourage both buyers and sellers to stay attuned to these market rhythms. Smart strategies and patience can make all the difference.
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