Lately, we’re seeing a subtle shift in the US housing landscape: new listings edged up 0.4% and total homes for sale rose 0.5% in the four weeks ending August 23—reaching their highest point since early Q2. At the same time, pending home sales dipped by 1.1% to a six-month low, a clear sign that higher housing costs are prompting many buyers to pause, even as inventory improves nationwide. The median US home-sale price increased 1.9% year-over-year, now topping $400,000, while average mortgage rates hover near 7%—close to a 13-month high.
For those actively searching, this environment is opening more doors to negotiate price reductions or concessions, especially on homes that have been listed for several weeks. Sellers who are realistic about pricing—rather than aiming for last year’s highs—are seeing more success in moving their properties. With over two decades serving Bay Area buyers and sellers, I’ve found that keeping expectations grounded and staying attuned to shifts like these is key to building trust and guiding clients confidently through each transaction.
Leave a Reply