Over the past four weeks ending August 23, we’ve seen a subtle but important shift in the US housing market: new listings edged up by 0.4% week-over-week, and the total number of homes for sale rose 0.5%, reaching their highest point since early Q2. Yet, even with increased choices, pending home sales dipped by 1.1% to a six-month low, as buyers remained cautious in the face of elevated housing costs. The median US home-sale price climbed 1.9% compared to last year, now topping $400K, while average mortgage rates hovered near 7%—the highest in over a year.
For those actively searching, this combination of higher inventory and softer demand has opened doors for more negotiation—whether it’s on price or seller concessions. Properties that have been on the market for several weeks often present the strongest opportunities for buyers, while sellers who price realistically (rather than holding out for yesterday’s numbers) are seeing more success.
With over two decades guiding clients through dynamic markets like Southern California, I’ve found that understanding these subtle shifts—and acting on them—can make all the difference in a transaction. As always, clear strategy and expert negotiation are key to making the most of the current climate.
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