Lately, we've seen a subtle but important shift in the real estate landscape: more homes are coming onto the market, just as buyer demand starts to ease. In the four weeks ending August 23, new US listings inched up by 0.4% week over week, and the total number of homes for sale rose by 0.5%, reaching the highest point since early Q2. Despite this increase in options, pending home sales dipped by 1.1%—the lowest in the past six months—as higher housing costs kept many would-be buyers on the sidelines, even as inventory improved across the country.
The median home-sale price across the US is now up 1.9% from last year, topping $400,000, while average mortgage rates are hovering around 7%, a 13-month high. For my clients in Georgia, Alabama, Tennessee, and Florida, this combination of rising inventory and softer demand is creating more buyer-friendly conditions. If you’re actively searching, you may find more opportunities to negotiate price reductions or seller concessions, especially on homes that have been listed for several weeks.
From my experience guiding buyers and sellers through all kinds of markets, I can say this: realistic pricing is key. Sellers who adjust their expectations to today’s market are more likely to see results, while buyers benefit from increased leverage and a wider selection. My role is to help you navigate these changing dynamics with clear advice and a focus on your best interests, making the process as straightforward and stress-free as possible.
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