We’re seeing a subtle but important shift in the housing market lately: In the four weeks ending August 23, new listings across the US inched up 0.4%, and the total number of homes for sale grew by 0.5%—the highest inventory we’ve seen since early spring. Meanwhile, pending home sales dipped 1.1% week-over-week, marking the lowest point in six months. With the median home price up 1.9% year-over-year to just above $400,000, and average mortgage rates hovering around 7% (a 13-month high), it’s no wonder that some buyers are pausing to reassess their options.
What does this mean if you’re house hunting? Simply put: there’s a bit more breathing room. More options, and in many markets, more negotiating power—especially when it comes to price cuts or seller concessions. Homes that have been on the market for several weeks often offer the best leverage for buyers, while sellers who price realistically are finding success rather than chasing the highs of previous years.
Having made my own move to Montana not so long ago—and having spent decades learning how to listen and advocate for my clients—I know how meaningful these shifts can be when you’re making a big decision. My aim is always to keep you informed and confident, whether you’re entering the market or just weighing your options.
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